US volunteer corps financial experts in Morocco to promote economic growth

A US delegation of the Financial Services Volunteer Corps (FSVC) visited Morocco this July 13-18 in a mission meant to better target US technical assistance to the Moroccan financial and business sectors.

FSVC said in a release the purpose of the visit, an initiative of the U.S. Department of State, is "to obtain advice from Moroccans on the best manner in which to structure US technical assistance to the country's financial and business sectors in preparation for the signature of a Free Trade Agreement between Morocco and the United States of America."

FSVC Executive Director, Andrew Spindler, said Friday in a press briefing the delegation inquired about the needs of small and middle-sized enterprises, underlining that an assistance program will be adopted to address funding problems.

It is likely that an FSVC program of financial sector technical assistance in Morocco funded by Middle East Partnership Initiative resources will result from the team's visit, the release goes on.

In this connection, the delegation held talks with senior-level officials in Bank al-Maghrib, the finance ministry and private sector operators to probe means to promote economic growth. According to Spindler, FSVC may organize training that profit to small and middle-sized enterprises and bank cadres.

Founded in 1990, FSVC is a non-profit organization that mobilizes the expertise of financial professionals to assist countries making the transition to market economies by recruiting senior bankers, lawyers, accountants, and other professionals to serve as volunteers on carefully designed assistance missions. It is supported by grants from USAID corporations and individuals.

FSVC has since its creation carried out hundreds of projects in more than 23 countries.