Morocco is now positioned as one of the leaders in sustainable capital markets in emerging countries. This new partnership will help stimulate domestic and international green investments in line with the objectives of the Kingdom's development model
The Moroccan Capital Market Authority (AMMC) and IFC (International Finance Corporation), an international financial company, have signed a cooperation agreement for the development of sustainable finance in the Moroccan market.
This agreement provides for an extension of the reference framework for sustainable finance as well as measures aimed at promoting the integration of ESG factors in financial activities, in particular investment.
This agreement is also a continuation of the partnership initiated in 2016 between the two institutions with a view to promoting sustainable finance. Indeed, IFC has supported AMMC initiatives in the development of guides for the issuance of sustainable financial instruments such as green bonds, social bonds and sustainability bonds.
In addition, the AMMC and IFC will also collaborate to strengthen the capacities of the capital market ecosystem in terms of ESG reporting, in particular through training programs and the development of effective tools for evaluation, monitoring and evaluation. supervision of this reporting. The development of a sustainable capital market in Morocco is part of the strategic orientations taken by the AMMC as part of its 2021-2023 strategic plan in line with national priorities, and will contribute to a more sustainable and resilient economic recovery.
“In recent years, the Moroccan capital market has made significant progress in terms of sustainable finance thanks to the various measures put in place by the AMMC in collaboration with the various stakeholders. IFC has brought added value to several of these measures and the agreement signed between the two parties will complement the initiatives already in place, with the objective of aligning the capital market with sustainable development in accordance with the commitments of authority and to national strategic orientations”, emphasizes Nezha Hayat, President of the Moroccan Capital Market Authority.
And Xavier REILLE, Director of IFC for the Maghreb continues: “The historic collaboration between IFC and AMMC has been fruitful. Morocco is now positioned as one of the leaders in sustainable capital markets in emerging countries. This new partnership will help stimulate domestic and international green investments in line with the objectives of the Kingdom’s development model”.