AfDB commits over 6.45 billion dirhams to support Morocco's development

Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the budget, and Achraf Tarsim, Country Manager for Morocco at the African Development Bank (AfDB), signed four financing agreements in Rabat on Wednesday, worth a total of over 600 million euros (around 6.45 billion dirhams).

These agreements are on the financing of four programs: the transformation support program for a digital, entrepreneurial and inclusive Moroccan university (€120 million, around 1.28 billion dirhams), the program to improve territorial competitiveness in Morocco (€200.31 million, around 2.143 billion dirhams), the support program for the inclusive and sustainable development of forests (€84 million, around 898 million dirhams) and the Guercif - Nador motorway project (€200 million, around 2.14 billion dirhams).

The ceremony was attended by several Moroccan ministers and officials, where Lekjaa emphasized the importance of these agreements for strengthening training, infrastructure and forestry-related projects. Tarsim emphasized the quality of relations between Morocco and the AfDB, and the positive impact of these projects on the Moroccan economy. The projects are designed to bolster higher education, territorial competitiveness, forestry development, and transportation infrastructure.