Strengthening Morocco's Tourism Infrastructure
Marrakech, Morocco, October 15, 2026 — The International Finance Corporation (IFC) has announced a strategic partnership with the Pickalbatros Hotels and Resorts Group aimed at enhancing their business operations and modernizing their hotel portfolio in Morocco. This collaboration is expected to generate over 7,500 direct and indirect job opportunities, significantly bolster the country's tourism infrastructure, and contribute an estimated $269 million to the Moroccan economy by 2032. The tourism sector in Morocco is experiencing robust growth, having welcomed 19.8 million international tourists in 2025, with a target of reaching 26 million tourists by 2030, coinciding with the nation's role as a host for the FIFA World Cup. Continued investment in tourism infrastructure, skill development, and service quality enhancement is vital to maintaining this momentum and translating sector growth into further job creation and economic opportunities.
Financial Support for Sustainable Growth
In this context, the IFC, in collaboration with Attijariwafa Bank, is providing a financing package worth $250 million for the subsidiaries of the Pickalbatros Group in Morocco. This financial support will empower the group, one of Africa's largest hospitality companies, to acquire three hotels in Casablanca and renovate several recently acquired facilities alongside its existing hotels. Currently, the group operates 35 hotels across Egypt and Morocco, including seven properties in Morocco, where it has been active since 2015. This expansion represents a significant regional dimension, promoting increased investment between southern countries and facilitating the transfer of capital and expertise within the hospitality sector across African markets. Additionally, it will help elevate the supply of high-quality accommodations and support the development of a more modern and sustainable tourism infrastructure in Morocco.
Kamel Abou Ali, the founder and chairman of Pickalbatros Hotels and Resorts Group, remarked, "This funding marks a significant milestone in our growth journey and the evolution of the hospitality sector in Morocco, reflecting our strong confidence in the country's tourism potential. We have greatly enhanced our presence in Morocco over the past two years, and we look forward to contributing to the Kingdom's tourism ambitions and creating sustainable value for the communities in which we operate." The financing package includes a $165 million loan from the IFC, supplemented by $85 million in private equity raised from Attijariwafa Bank. Up to $80 million of the IFC loan will receive credit insurance coverage through the Managed Co-Lending Portfolio Program (MCPP), providing long-term financing that is not readily available in the local market to support investment in Morocco's hospitality sector. It is anticipated that by 2032, the project will create over 1,350 direct job opportunities and approximately 6,200 indirect job opportunities.
David Tinel, the IFC's country manager for Morocco, stated, "Morocco has a strong opportunity to convert the ongoing growth in the tourism sector into more job and economic opportunities. This investment combines the expertise of a well-established regional company with long-term sustainability-linked financing and private capital, helping businesses expand, enhancing tourism infrastructure, and supporting more sustainable growth in the sector." This financing marks the IFC's first sustainability-linked investment in Africa aimed at green and blue investments and represents the largest investment by the institution in the hospitality sector in Africa to date. The funding will assist Pickalbatros in improving the sustainability of its hotel portfolio in Morocco, with targets that include reducing greenhouse gas emissions and obtaining EDGE certification for green buildings at several hotels. The improvements associated with this certification are expected to reduce energy and water consumption by at least 20 percent. Additionally, the IFC is providing advisory services to help the group enhance sustainability practices and support the expansion of sustainability-linked financing within Morocco's hospitality sector.
This initiative aligns with the new Country Partnership Framework between the World Bank Group and Morocco for the fiscal years 2026-2035, launched in July 2026. The framework prioritizes the creation of more quality job opportunities at its core, supporting Morocco's path towards a more productive and inclusive economy driven by the private sector. It focuses on enhancing business productivity and competitiveness, building more inclusive, connected, and resilient regions, and strengthening human capital.
As reported by ifc.org.
