Director-General of IFC Confirms Support for Morocco’s Post COVID-19 Recovery

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Rabat – The new Director-General and Executive Vice-President of the International Finance Corporation (IFC), Makhtar Diop, and the Minister of Economy, Finance and Administration Reform, Mohamed Benchaaboun, met during a video conference where Diop stated “IFC’s readiness to strengthen its support, both financially and technically, to the efforts of the Kingdom” to improve Morocco’s economic and social development, by using the private sector.

IFC is committed to “rapidly” finalizing the Multi-year Partnership Framework, confirmed a statement from the Ministry of Economy, Finance, and Administration Reform. 

Morocco is a key player in the MENA region, strategically located in Africa, it is a perfect hub to draw the interest of private investors, both national and regional, stated Diop. 

Benchaaboun analyzed the post-COVID-19 recovery plan, which has two main parts: Public sector reform and maximization of the leverage effect through the Mohammed VI Fund for investment, said the statement.

Benchaaboun requested that the multi-year partnership framework for financial and technical support, under IFC, be prioritized and that it should include the main areas that IFC will provide additional help and support for post-COVID-19 recovery.  

During the meeting, Benchaaboun evaluated other ongoing priority reform projects, with particular attention given to the generalization of social protection. 

Source: moroccoworldnews.com