The agreement was signed in Rabat on Friday, November 13, by Economy, Finance and Public Performance Minister Fouzi Lekjaa and the AfDB’s Country Manager for Morocco, Achraf Hassan Tarsim.
The funding will support the third phase of the Economic Governance and Climate Change Resilience Support Programme, which seeks to strengthen the private sector’s role in investment and value creation while refocusing the State on its strategic functions.
The programme aligns with Morocco’s economic transformation priorities and the AfDB Group’s Four Cardinal Points strategy.
Speaking at the signing, Lekjaa said the agreement reflected the Bank’s confidence in the country’s reform programme under the leadership of King Mohammed VI.
Tarsim said the financing would support Morocco’s efforts to maintain reform momentum, accelerate economic transformation, strengthen growth and create jobs.
The programme has two main components. The first focuses on strengthening public sector capacity through reforms to state-owned enterprises, modernising the public-private partnership framework and improving the business environment.
These measures are intended to attract private investment and help small and medium-sized enterprises become more integrated into global value chains.
The second component focuses on climate and energy resilience, including reforms to governance in the water and electricity sectors and the integration of climate considerations into public policy.
The programme will also build on reforms introduced during its previous phases and help Morocco respond to the economic effects of the Middle East crisis, particularly rising energy and transport costs.
The AfDB said the operation forms part of its Global Energy and Fertiliser Crisis Response Framework. It combines short-term support to address external shocks with measures aimed at strengthening long-term resilience.
The financing is also expected to help Morocco protect fiscal space and priority public spending while sustaining investment and economic reforms.
–AfDB/ChannelAfricca–
Image: Reuters
