“IFC and AMMC join forces to increase availability of sustainable finance in Morocco” – Africa Global Funds – February 16, 2021

On February 16, 2021 Africa Global Funds reported that “IFC has signed an agreement with the Moroccan Capital Market Authority (AMMC) that will help companies enhance their reporting on environmental, social, and governance (ESG) practices, paving the way for more green investments—a key component in Morocco’s COVID-19 recovery strategy.

As part of the partnership, IFC will support AMMC’s efforts to improve capital market ESG standards by building its capacity and aligning its ESG disclosure regulatory framework with international best practices.

‘A green recovery can help deliver economic growth and jobs quickly,’ said Sérgio Pimenta, IFC Vice President for Africa and the Middle East. ‘Our partnership with AMMC will enable Moroccan businesses to enhance their environmental, social and governance practices and attract more green investment, in line with Morocco’s green recovery plan, creating more jobs and opportunities.’

‘Aligning the Moroccan financial sector to sustainable development was identified as a priority at COP22. This is more important than ever in the current context of economic recovery and requires the adoption of best practices on transparency of environmental, social and governance factors,’ said Nezha Hayat, President of AMMC.

‘Our partnership with IFC will allow us to better support companies making public offerings in their transition to more sustainable practices, helping them improve their competitiveness and more broadly the attractiveness of our market.’

The project is part of IFC’s Governance for Sustainability program in Morocco and is delivered as part of the MENA Private Sector Development initiative, in partnership with the government of the Netherlands.”

You may read the article on the Africa Global Funds internet site.