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IFC to open in Rabat program for north African enterprise development
Morocco-Regional, Economics, 9/13/2002
Morocco and the World Bank's International Financial Corporation (IFC) signed Tuesday a framework agreement to open in Morocco an office of the North African Enterprise Development Fund (NAEDF).
The fund, part of the World Bank's development projects in the Middle East-North Africa region (MENA), will support small and medium-sized enterprises in Morocco.
The NAEDF plans to carry out several projects in Morocco, particularly the set up of a targeted program of assistance and training in banking, and prospecting projects where the IFC can invest.
The agreement was signed by Moroccan minister of social economy, SMEs and handicraft, Ahmed Lahlimi, and IFC vice-executive president, Peter Woicke.
The IFC was set up in 1956. It has earmarked some US$ 800 million to fund enterprises and banks in Morocco since 1962 when Morocco adhered.
The NAEDF will also open offices in Algiers and Cairo.
Previous Stories:
King Mohammed at World Summit urge canceling debt, not wasting resources
(9/3/2002)
King Mohammed participates in world summit on sustainable development
(8/31/2002)
Arab investments club set up in Morocco
(5/23/2002)
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