IFC Hosts Conference on Judicial Mediation, Helping Boost Economic Activity in Morocco
Skhirat, Morocco, May 30, 2012—
IFC, a member of the World Bank Group, is co-hosting a conference on judicial mediation in Morocco, part of an effort to help companies resolve legal disputes quickly and amicably, thus supporting economic development across the country.
The two-day event, which begins May 30 in Skhirat, will focus on the benefits of judicial mediation, which can help speed up commercial disputes, free funds locked up in litigation and lessen pressure on Morocco's judicial system. The conference is part of IFC’s Alternative Dispute Resolution initiative, which seeks to build a regional network of mediators with hubs in Morocco, Egypt and Lebanon.
"Private mediation is an important tool that companies can use to settle disputes, often more amicably and in much less time than going through the courts," said Magdi Amin, head of IFC's Investment Climate department in the Middle East and North Africa. “By creating a network of mediation centers, we can popularize this process, encouraging economic development across the region.”
Already in Morocco, mediation has been used in 960 cases, 80 percent of which have been resolved successfully, freeing up $100 million that had been locked in disputes
.
The conference is co-hosted by the Moroccan Ministry of Justice and Liberties, the General Confederation of Moroccan Enterprises and the Euro-Mediterranean Center for Mediation and Arbitration (CEMA). During the gathering, IFC will sign a memorandum of understanding with CEMA and the Cairo Regional Center for International Commercial Arbitration linking mediation centers in Morocco and Egypt.
Morocco’s justice ministry will also present a draft law on court-connected mediation, which IFC has been supporting under the framework of Morocco’s National Investment Climate Committee.
The
Alternative Dispute Resolution
project in Morocco has been made possible with financial support from Switzerland's State Secretariat for Economic Affairs, SECO.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
.
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