IFC and Saham Bank Partner on $250 million-equivalent Unfunded Risk Participation to Support Access to Finance for Moroccan Businesses

Casablanca, Morocco, November 3, 2025 - IFC and Saham Bank have signed a partnership to expand access to finance for Moroccan businesses, supporting and creating jobs, and strengthening the resilience of Morocco's financial sector.

Under the partnership, IFC will take on up to 50 percent of the credit risk on a $500 million equivalent portfolio of Saham Bank's corporate loans, allowing the bank to continue financing Moroccan companies while meeting regulatory requirements.

The agreement was signed on the sidelines of the Africa Financial Industry Summit, co-hosted by IFC, Jeune Afrique and the Kingdom of Morocco. The summit brought together policymakers, investors, and regulators to discuss how African savings can stay on the continent to fund growth with local currencies.

"This partnership reaffirms Saham Bank's commitment to driving Morocco's private sector growth and supporting our clients' ambitions," said Ahmed El Yacoubi, Saham Bank's Managing Director. "It also reflects Saham Bank's unwavering commitment to sustainability and our strategy to implement and maintain regulatory requirements while embracing the highest international standard. With IFC's global expertise, we will enhance transparency, advance ESG policies, as well as help Moroccan companies seize opportunities in green business and integrate into global value chains."

"This partnership with Saham Bank empowers companies to grow, innovate, and drive inclusive development," said Ethiopis Tafara, IFC's Vice President for Africa. "It will help address gaps related to industrialization and food security, while also bolstering confidence in the financial system, mobilizing private capital, and contributing to a more inclusive and resilient banking sector.

This project aligns with the World Bank Group's FY19-25 Country Partnership Framework (CPF) for Morocco, which outlines the organization's support to Government's development priorities. By implementing guarantees to unlock local private sector financing and enabling a new locally owned bank to expand its lending operations, the facility supports increased access to finance. The project also aligns with IFC's strategy in Morocco, which prioritizes financial inclusion as a critical driver of economic growth, job creation, and poverty reduction.

IFC has worked with public and private sector partners in Morocco for more than 60 years, supporting small businesses, manufacturers, agribusinesses, infrastructure, the financial sector, and more. In the past three fiscal years alone, IFC has invested and mobilized more than $2 billion to support sustainable economic development in Morocco.