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Image used for illustrative purpose. Morocco skyline
The International Finance Corporation (IFC), a World Bank member, and Morocco’s Mohammed VI Fund for Investment have entered into a partnership agreement to identify and finance sustainable infrastructure projects in the North African country.
The two entities will work together to identify high-impact infrastructure projects in key sectors contributing to the country’s economy, IFC said in a French language statement.
As part of the collaboration, IFC will assist in establishing a sub-fund of the Mohammed VI Fund for Investment dedicated to infrastructure and open to Moroccan and international partners.
The Mohammed VI Fund for Investment was launched in July 2020 with an initial capital of 15 billion Moroccan dirhams ($1.5 billion). The fund aims to attract up to MAD30 billion of additional private capital through investment to generate a total investment budget of over MAD150 billion.
Over the past three years, IFC has invested more than $200 million in various sustainable infrastructure projects throughout Morocco.
(Writing by P Deol; Editing by Anoop Menon)
