<\/p>\n
The funding was approved on October 21 under the third phase of the Programme to Support the Strengthening of Economic Governance and Resilience to Climate Change.<\/p>\n
<\/p>\n
The programme seeks to increase private-sector investment and value creation while refocusing the state on strategic responsibilities. \u201cOur ambition is to help cushion exogenous shocks, whether economic, energy-related or climate-related,\u201d AfDB Director for Governance and Economic Reforms Abdoulaye Coulibaly said.<\/p>\n
<\/p>\n
\u201cIt is also to consolidate the structural reforms necessary to sustainably strengthen the resilience of the Moroccan economy and promote private investment.\u201d<\/p>\n
<\/p>\n
The first component will support the restructuring of state-owned enterprises, modernisation of the public-private partnership framework and improvements to the business environment.<\/p>\n
<\/p>\n
The reforms are intended to mobilise more private investment while supporting small and medium-sized enterprises, innovation and participation in global value chains.<\/p>\n
<\/p>\n
A second component will strengthen climate and energy resilience by modernising governance in the water and electricity sectors.<\/p>\n
<\/p>\n
Climate considerations will also be integrated more extensively into public policy to accelerate Morocco\u2019s transition towards a low-carbon economy. \u201cMorocco has chosen to take action by continuing its reforms despite external shocks,\u201d AfDB Country Manager in Morocco Achraf Tarsim said.<\/p>\n
<\/p>\n
\u201cOur aim is to support this vital momentum to accelerate the transformation of the economy, sustain growth and create more jobs.\u201d<\/p>\n
<\/p>\n
–AfDB\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":40421,"template":"","meta":{"_acf_changed":false,"_members_access_role":[],"_members_access_error":"","_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-48878","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The African Development Bank Group (AfDB) has approved $487 million to help Morocco advance economic reforms, strengthen climate resilience and promote more inclusive growth.","published_date":"","news_description":"The African Development Bank Group (AfDB) has approved $487 million to help Morocco advance economic reforms, strengthen climate resilience and promote more inclusive growth.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":3,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48878\/revisions"}],"predecessor-version":[{"id":48928,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48878\/revisions\/48928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/40421"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=48878"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=48878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}