AMMC-IFC: Cooperation agreement for the improvement of sustainable finance in the Moroccan market

The development of sustainable finance in the Moroccan market was the subject of a cooperation agreement, signed on Wednesday, between the Moroccan Capital Market Authority (AMMC) and the International Finance Corporation (IFC – International Finance Corporation). .

A press release from the two partners specifies that the 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.

The 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 are also collaborating to build the capacity of the capital market ecosystem on ESG reporting, including through training programs and the development of effective tools for assessing, monitoring and reporting. 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 implemented by the AMMC in collaboration with the various stakeholders. IFC has added value to several of these measures and the agreement we have just signed will complement the initiatives already in place, with the aim of aligning the capital market with sustainable development in accordance with the commitments of authority and national strategic orientations”, declared Nezha Hayat, President of the AMMC, quoted in the press release.

For his part, Xavier Reille, director of IFC for the Maghreb, underlined that “the historic collaboration between IFC and the 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,” he added.

It should be noted that the AMMC, the regulatory authority of the Moroccan capital market, has the mission of ensuring the protection of savings invested in financial instruments and the proper functioning and transparency of the capital market in Morocco.

IFC, a member of the World Bank Group, is the leading private sector-focused development institution in emerging countries. It operates in more than 100 countries, devoting its capital, skills and influence to creating markets and opportunities in developing countries.

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