Casablanca, Morocco, October 7, 2019— IFC, a member of the World Bank Group, signed an agreement today to partner with the General Confederation of Enterprises in Morocco (CGEM), the country’s leading business association, to help boost private sector development in the country.
The agreement covers four key areas. They include establishing a policy dialogue platform to support key reforms for the private sector; promoting healthy and fair competition framework; increasing the employability of women in the private sector; and collaborating on Moroccan private sector’s participation in preparation for the IMF and World Bank Group annual meetings in Marrakech in 2021.
"We welcome the cooperation between CGEM and IFC," said Ms Nabila Freidji, Vice-President of CGEM, head of International and Institutional Relations. "This partnership strengthens the visions and the programs of our two institutions for the economic development of Morocco and its private sector, as defined, on one hand in the World Bank Group 2019-2023 strategic partnership framework for Morocco, and on the other by the 2018-2021 CGEM roadmap, which is focused on the development of businesses of all sizes, and on job creation focusing on youth and women."
“This partnership will strengthen the dialogue between the CGEM and the World Bank Group at the national level to develop the private sector said Xavier Reille, IFC Regional Manager for the Maghreb. “The Annual Meetings in Marrakech in 2021 also provide an opportunity for Moroccan firms to showcase their know-how to a global audience.”
About CGEM
The General Confederation of Moroccan Enterprises represents the private sector in discussions with public authorities and government institutions. It speaks on behalf of its 88,000 affiliated members and advocates for a conducive business environment for the private sector. Since its creation in 1947, CGEM has been representing and promoting member companies operating in different sectors. CGEM's actions are based on credibility, efficiency, and solidarity with its members.
About IFC
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 where they are needed most. In fiscal year 2019, we delivered more than $19 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
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