IFC collaborates with Morocco in implementing best practices of SME's loans

The International finance corporation (IFC) concluded on Wednesday with Moroccan financial institution "Credit Populaire du Maroc" (CPM) an agreement to cooperate in integrating new techniques of rating, management and follow up of loans extended to small and medium sized enterprises.

The new techniques, abiding by the Bale committee recommendations, are part of the North-Africa Enterprise Development (NAED) program launched by the IFC and co-financed by Belgium, France, Italy and Switzerland.

The Bale committee on banking supervision is a forum of banking supervisors active since the mid 1980's in promoting information exchanges and developing banking standards.

It will support the Moroccan institution's capacities in integrating the Bale committee recommendations within the Bank system through the adoption of internal rating, file management of and loan reimbursement tools, says the IFC.

The NAED is a support program set forth by the IFC for the development of SMEs in North Africa by proposing programs meant to reinforce institutional capacities in order to develop access to financing, improve services extended to enterprises and upgrade the business atmosphere.