AfDB launches ambitious plan to boost Morocco's economic and social growth
Morocco, a country with a rich cultural heritage and a growing economy, is the beneficiary of significant investments from the African Development Bank (AfDB). Since the beginning of 2024, the bank has invested more than 12.89 billion dirhams (1.26 billion euros) in nine strategic projects aimed at strengthening the country's competitiveness, modernising its universities and ensuring access to drinking water, among other objectives.
"Morocco, our first partner on the continent, is making great strides and leading its transformation," said AfDB country director for Morocco, Achraf Tarsim.
"To date, thanks to this financial grant, nine strategic projects have been implemented to strengthen resilience to external shocks, improve territorial competitiveness, modernise university schools, ensure access to drinking water, develop forest resources, improve the country's mobility and logistical advantages and unlock trade. potential foreign countries," Tarsim continued.
The statement noted that some of these projects are benefiting for the first time from a new guarantee scheme for government agencies and companies, recently introduced as a catalyst for public investment, while noting that this financing is in line with the priorities of the Bank's 2024 strategy.
Tarsim recalled that the purpose of this action plan is to enhance competitiveness and economic resilience, support strong and sustainable growth, and promote economic and social inclusion. "These achievements are possible thanks to the personal involvement of the Minister of Economy and Finance and President of the Bank of Morocco, Nadia Fettah, with whom we have developed a new strategy for the country and which contributes to a decrease in the performance of the activity," Tarsim added.
He added: "Ms Fettah also helped organise the Africa Investment Forum in Morocco to unite efforts around flagship initiatives such as the Mohammed VI Fund and the Morocco-Nigeria Gas Pipeline and all the joint efforts to modernise the international financial architecture for the benefit of the continent".
Nadia has been instrumental in the development of this strategy and has worked closely with the AfDB to boost the country's economic and social growth. "Morocco is a key partner for the AfDB and we have worked together to create a more prosperous future for the country," Fettah said in a recent interview.
The Minister of Economy and Finance and Governor of the Bank of Morocco, Nadia Fettah, has been instrumental in implementing this strategy and has helped organise the Africa Investment Forum in Morocco to join forces around flagship initiatives such as the Mohammed VI Fund and the Morocco-Nigeria gas pipeline.
The AfDB has been a key partner of Morocco since its foundation in 1964. In recent years, the bank has invested more than 12 billion euros in projects covering important sectors such as health, education, water, energy, agriculture and infrastructure.
The recently approved guarantee facility for government agencies and companies is expected to boost public investment and support the country's development. The AfDB is committed to Morocco's development and has launched an ambitious plan to boost the country's economic and social growth.
The country's strategy focuses on improving competitiveness and economic resilience, as well as promoting economic and social inclusion. Morocco is an important partner of the AfDB and has received large amounts of financing for projects in key sectors.
The AfDB's investment in Morocco is an important step towards strengthening resilience to external shocks, improving territorial competitiveness and modernising universities. In addition, it aims to provide Moroccans with access to clean water, develop forest resources and improve the country's mobility and logistical advantages.
