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The African Development Bank (AfDB) has approved a $220 million financing to implement a results-oriented program intended to improve territorial competitiveness in Morocco.
The program is aimed at setting up new industrial poles, attracting private investors and generating new jobs, the AfDB said in a press release.
This new dynamic supports Morocco’s efforts in the regional implementation of its industrial acceleration plan.
«This operation is a strategic contribution to the dynamic of advanced regionalization initiated by the Kingdom», said AfDB Director General for North Africa, Mohamed El Azizi, noting that the enhancement of the competiveness of territories will help ensure a more sustainable and inclusive development.
Through a new generation of industrial infrastructure, the primary objective of the program will be to strengthen the contribution of regions to the process of Morocco's industrial acceleration.
It will also set up financial incentives for small and medium-sized industrial enterprises, with the aim of improving the business environment and developing new industrial bases, partially funded by this operation.
The program will also promote Morocco destination internationally with the aim of attracting more foreign direct investments to the kingdom’s regions.
Partnership between Morocco and the African Development Bank, which goes back to more than half a century, covers different strategic sectors, including energy, transport, water and sanitation, agriculture and social development.
