Marrakesh, Morocco, December 18,
2018—IFC, a member of the World Bank Group, and the governorate of
Marrakesh-Safi signed today an agreement designed to improve the business
climate and bolster the competitiveness of local enterprises, part of an
effort to create jobs and drive economic growth in the region.
IFC will advise the governorate’s Regional
Investment Center (CRI) on ways to spur investment, improve the competitiveness
of local firms, and buttress governance standards. IFC will also support
the CRI in examining the barriers to the development of the region’s
private sector and advise officials on how to create economic opportunities,
especially for women and young people. The work is considered key to creating
jobs in a region that is removed from Morocco’s economic heartland.
“The Marrakesh-Safi region has tremendous
economic potential,” said Karim Kassi Lahlou, the Governor of the Marrakech-Safi.
“With IFC support, we will continue to foster an environment that supports
private businesses, innovation, and job creation.”
Marrakesh-Safi is the fifth largest region
in Morocco in terms of economic activity and contributes about 9 percent
of the country’s gross domestic product.
“In Morocco, the private sector can
be a powerful force for economic development, especially in outlying areas,”
said Sérgio Pimenta, IFC Vice-President for the Middle East and Africa.
“Through this project, IFC will help businesses in the region reach their
potential, creating jobs and economic opportunities for the people of Marrakesh-Safi.”
The project was made possible thanks
to the support of the Swiss Secretariat for Economic Affairs. To maximize
its impact, it will be delivered in close collaboration with the World
The Regional Investment Center (CRI)
is a one-stop shop for investors and entrepreneurs. It helps them to complete
administrative procedures and obtain the authorizations necessary to complete
their projects. As part of the ongoing reforms, the CRI is also focused
on the improvement of the Morocco’s business climate and the country’s
IFC—a sister organization of the World
Bank and member of the World Bank Group—is the largest global development
institution focused on the private sector in emerging markets. We work
with more than 2,000 businesses worldwide, using our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In fiscal year 2018, we delivered more than $23 billion in
long-term financing for developing countries, leveraging the power of the
private sector to end extreme poverty and boost shared prosperity. For
more information, visit www.ifc.org