Morocco-ADB: A historic cooperation of more than half a century | Hespress French

For more than fifty years, Morocco and the African Development Bank (AfDB) have succeeded in maintaining a historic partnership. The African financial institution is committed to supporting the dynamics of economic and social reforms in the Kingdom, while supporting it in the implementation of several projects in different sectors. Its financing within the country reached more than 12 billion dollars spread over more than 170 operations.

This cooperation is the result of mutual support from both parties. It should be recalled that Morocco was one of the very first countries to support the creation of Africa50 and the main shareholder, with Bank Al Maghrib (BAM), in its capital. Africa50 is an investment platform designed by African Heads of State and the AfDB. The purpose of this creation is to significantly strengthen the infrastructure of the African continent in terms of development and innovation at the level of multiple sectors, thus allowing the attraction of investors to the continent.

According to his testimony during the work of the general meeting of shareholders of Africa50, the President of the AfDB and of the Board of Directors of Africa50, Akinwumi Adesina, had qualified Morocco as a “model” of development in Africa. The progress that the Kingdom has made in several sectors in recent years is undeniable. This was attested to by the directors of the ADB during their last visit to the country when they held several meetings with certain government officials and a set of officials from both the public and private sectors.

The delegation praised the dynamism and vision of the Moroccan government in terms of the development and progress of the Kingdom.

She began her visit by meeting Nadia Fettah Alaoui, the Minister of Economy and Finance, in order to be able to assess and modify certain aspects aimed at deepening the partnership. “We thank the African Development Bank for the support provided to our country in the implementation of several structuring reforms and infrastructure projects, which have considerably contributed to better inclusion of the populations, in particular young people and women”said the Minister.

In response, the delegation’s spokesman, Désiré Guedon, stressed that “the partnership between Morocco and the Bank is exemplary…We will use it to accelerate the dynamics of Morocco’s emergence”. In particular, he specified that “Morocco should play a driving role for other African countries through the sharing of experiences” since he has shown an important commitment thus making him “a development model to follow”.

The AfDB has supported several projects in Morocco that its delegation visited, such as the drinking water pumping and treatment station on the Oum Azza site, where “joint achievements have enabled 15 million inhabitants, in some thirty Moroccan cities, to benefit from better water supply and distribution systems”, according to the administrators, and the Rabat-Agdal station which is part of the project to increase the capacity of the railway axis linking Tangier and Marrakech.

However, the delegation also went to Casablanca for the meeting of representatives of the private sector. According to Lamia Marzouki, deputy general manager of Casablanca Finance City, the two entities share several achievements. It is for us a major institution”, indicates the manager, adding that “the law establishing Casablanca Finance City was initiated as part of the Financial Sector Development Support Project, deployed by the Bank”.

The cooperation between the financial institution and the Kingdom is often praised thanks to the remarkable results achieved by the country. “I commend the Moroccan authorities for the consistency of their development plan and the resilience of the economy. Morocco has demonstrated its ability to successfully emerge from the Covid-19 crisis, thanks to the dynamism of its government, the courage of its population and the strength of its private sector, under the enlightened leadership of His Majesty King Mohammed VI.”, had previously indicated Akinwumi Adesina.

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Morocco-ADB: A historic cooperation of more than half a century | Hespress French

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