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IFC and Morocco’s Bank Al Maghrib Promote Access to Finance for Small Enterprises


IFC, a member of the World Bank Group, and Bank Al Maghrib brought together financial sector players in a workshop few weeks ago about the Moroccan government’s plans to establish private credit bureaus, an important step to improve access to finance for the country’s small enterprises.

The workshop was a result of IFC and Bank Al Maghrib’s joint project to promote credit reporting. Following the event, the first private credit bureau license was given to Experian to begin operations in Morocco.

Lenders tend to be more confident in extending credit when they know more about borrowers and their credit history. Research indicates that institutions such as credit bureaus strongly support private credit markets and play a critical role in improving access to finance for underserved segments, particularly small businesses. Access to consumer and commercial credit information helps lenders make better decisions, reduce their lending risks, and increase the volume of business.

Joumana Cobein, IFC Country Officer for Morocco, said, “A strategic IFC goal is to expand access to finance for those who need it most. Credit bureaus are a crucial building block that enables greater access to financing for individuals and small businesses.”

The IFC Global Credit Bureau Program provides assistance in more than 30 countries. IFC supports the development of legal and regulatory frameworks and provides advisory services for the start-up and expansion of credit bureaus, including strategy, technical partner selection, and outreach and awareness events. IFC launched the regional program in 2005, and it is managed by IFC Advisory Services in the Middle East and North Africa – PEP-MENA.

About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through loan participations and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit


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