The African Development Bank (AfDB) and the Ministry of Economy, Finance and Administration Reform signed a grant agreement of nearly one million dollars intended to support services of the Head of Government to implement the support project for improving the business climate and recovery.
The main objective of this partnership, which intervenes in the context of the crisis linked to Covid-19, is to support the improvement of the business environment in order to consolidate the country’s resilience in the face of the pandemic and to promote the recovery of its economy, indicates the AfDB in a press release.
“This partnership is all the more important as it comes at a time when Morocco is mobilizing all of its forces to successfully end the crisis from above,” said Mohamed El Azizi, AfDB DG for the North Africa.
The partnership will thus help speed up the implementation of measures to improve the business environment in Morocco. More generally, it will make it possible to support the agenda of priority reforms in the economic and social fields, to support its sectoral application and to strengthen its monitoring mechanisms through a series of thematic workshops that will promote the sharing of information of experience and good practices.
The AfDB has supported Morocco in its response to the health crisis by providing more than 380 million euros through the support program for the response to Covid-19 and additional funding for the support program improving social protection.
Morocco was among the founding members of the AfDB in 1964. The Bank’s commitment to Morocco amounts to more than ten billion euros cumulative, with financing covering various sectors, including health, energy, water, transport, human development, agriculture and the financial sector.