Improving the Competitiveness of Marrakech-Safi (IFC-605111)

Countries
  • Morocco
Geographic location where the impacts of the investment may be experienced.
Specific Location
Marrakech-Safi region
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 29, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Regional Investment Center of Marrakech-Safi
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Industry and Trade
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 23, 2021

Disclosed by Bank Nov 17, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the project will contribute to improve the competitiveness of the Marrakech-Safi region in Morocco by supporting the Regional Investment Center of Marrakech-Safi (CRI MS) to i) improve the business environment for investors, including streamlining of procedures to reduce public payment delays and (ii) retain and promote private investment in Marrakech-Safi. The project has two components: the first being improving business environment in the region and the second being retaining and promoting private investment in the region that has been impacted by the COVID-19 pandemic. Under the first component, in line with the ongoing decentralization strategy and the repositioning of the CRI under their recently enacted law, the project will support the CRI MS in improving the regional investment climate through reducing public procurement payment delays for private sector entities operating in the region and supporting the operationalization of the CREA of Marrakech-Safi (CREA MS) so enhance governance for an improved business environment. The second component, focusing will support reinforcing investment retention and promotion in the Marrakech Safi region through the implementation of the following activities: i) Identifying of best practices for regional investment retention and promotion activities through a benchmarking of regional investment promotion agencies including in Catalunya and Flanders regions, ii) supporting CRI MS in refining it strategy for retaining and promoting private investment, especially FDI, in less developed provinces in the region, iii) Establishing an “after-care” procedure which could be adopted for the CRI of the Marrakech Safi Region for monitoring investment projects, improving overall investors’ satisfaction and encourage re-investment and expansion of existing projects.

Investment Description
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Contact Information
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*Contact information not provided at the time of disclosure*

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ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org 

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How it works