Morocco-AfDB: signature of four agreements over 6 MMDH
Rabat, Wednesday, July 10, 2024
The Minister Delegate to the Head of Government in charge of Investment, Convergence, and the Evaluation of Public Policies, Mr. Mohcine JAZOULI, participated in the signing ceremony of loan agreements between the Ministry of Economy and Finance and the African Development Bank on Wednesday, July 10, 2024, in Rabat.
The agreements concern the following programs:
- The agreement to finance the Transformation Support Program for a Digital, Entrepreneurial and Inclusive Moroccan University, worth 120 million Euros, or around 1.28 billion Dirhams;
- The agreement for the financing of the Results-Based Program for the Improvement of Territorial Competitiveness in Morocco, in the amount of 200.31 million Euros, or approximately 2.143 billion Dirhams;
- The agreement to finance the Support program for the inclusive and sustainable development of forest areas, in the amount of 84 million Euros, or around 898 million Dirhams; and
- The agreement for the financing of the Guercif - Nador Motorway Project, worth 200 million Euros, or around 2.14 billion Dirhams.
In his speech, Mr. Mohcine JAZOULI emphasized, “Since 1970, Morocco and the African Development Bank have forged strong ties marked by historic and fruitful cooperation. In line with the High Orientations of His Majesty King Mohammed VI, our ambition is to attract more high-value-added and job-creating investments. The PARACT-M program perfectly aligns with this framework and demonstrates our shared commitment to stimulating investment and promoting sustainable economic development. With an amount of more than 2 billion dirhams, the program aimed at the improvement of territorial competitiveness in order to attract investors, create jobs and improve socio-economic inclusion.”
The ceremony was attended by the Minister of Equipment and Water, the Minister of Agriculture, Maritime Fisheries, Rural Development, and Forests, the Minister of Industry and Trade, the Minister of Higher Education, Scientific Research, and Innovation, and the Minister Delegate in charge of the Budget.
