The Moroccan Capital Market Authority (AMMC) and the International Finance Corporation have signed a new cooperation agreement to develop sustainable finance in the Moroccan market
This agreement provides for the extension of the frame of reference for sustainable finance as well as measures aimed at enhancing the integration of environmental, social, and institutional governance factors in financial activities, in a particular investment.
This agreement is also a continuation of the partnership that started in 2016 between the two institutions with the aim of promoting sustainable financing. In fact, IFC has supported AMMC initiatives in developing guides for the issuance of sustainable financial instruments such as green bonds, social bonds, and sustainability bonds.
In addition, AMMC and IFC are also collaborating to build the capacity of the capital market ecosystem in ESG reporting through, among other things, training programs and the development of effective assessment, monitoring, and reporting tools.
The development of a sustainable capital market in Morocco is part of the strategic directions taken by AMMC as part of its strategic plan 2021-2023 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 financing thanks to the various measures that AMMC has put in place in cooperation with various stakeholders.
The IFC has added value to many of these measures, and the agreement we have just signed will complement the already existing initiatives, with the aim of harmonizing the Capital market with sustainable development in accordance with the commitments of the authority and national strategic directions. President of the Moroccan Capital Market Authority.
“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,” said Xavier Riel, IFC Director for the Maghreb. This new partnership will help catalyze investments in Local and international green in line with the objectives of the development model in the Kingdom. »