Morocco and the Islamic Development Bank (IsDB) sealed Saturday a Marrakech-based framework agreement on the strategy of a partnership covering the period 2019-2022 and focused on the development of value chains of economic sectors.
Signed at the end of the 44th IsDB annual meeting, this framework agreement aims to determine the areas of cooperation between Morocco and this institution for the next four years.
“We have sealed a framework agreement that sets the partnership by 2022 and which focuses on issues related to the competitiveness of the Moroccan economy and its integration into the global economy,” says Zohair Chorfi, Secretary General of the Ministry of Economy and Finance.
Several agreements have been signed further strengthening the medium-term cooperation between Morocco and the IsDB.
A 2019 step-by-step action plan of nearly $ 206 million has been developed by both parties to fund social projects, including the National Initiative for Human Development (INDH) and preschool and, at the same time, territorial development.
The IsDB will also support the Kingdom in its regionalization efforts to make regions new poles of development.
At the same time, Morocco and the IsDB concluded:
– A technical assistance agreement on a $ 1.5 million contribution to support INDH phase III.
– An agreement on the financing of an inclusive rural development project in the Tangier-Tetouan-Al Hoceima region of $ 93.8 million which aims to reduce the number of households living below the poverty line through the improvement of the living conditions of rural populations.
– A technical assistance convention for the development of an integrated model for the development of education in Morocco with a contribution of US $ 280,000 from the IsDB.
This project aims to make access to education and education compulsory for children between 4 to 11 years old and to improve student achievement in national and international assessments through the development and implementation of implementation of an integrated model for the development of basic education.