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African Development Bank approves $487 million for Morocco
The African Development Bank (AfDB) has approved $487 million in financing for Morocco to support economic reforms, enhance climate resilience, and encourage private investment. This funding constitutes the third phase of the Programme to Support the Strengthening of Economic Governance and Resilience to Climate Change (PGRCC).
The program focuses on two primary components: restructuring state-owned enterprises, modernizing the public-private partnership framework, and improving the business climate to support small and medium-sized enterprises. Additionally, the financing aims to strengthen governance in the water and electricity sectors while integrating climate considerations into public policy to accelerate a low-carbon transition.
The approval comes as Morocco faces economic pressures, including rising energy and transportation costs linked to regional instability in the Middle East. The AfDB intends for this support to help cushion the economy against external shocks and promote sustainable, inclusive growth.
Entities
Abdoulaye Coulibaly · Achraf Tarsim · African Development Bank · Bank Al-Maghrib · Fatima Ezzahra El Mansouri · Insurance and Social Security Control Authority · Insurance and Social Security Supervisory Authority · Moroccan Capital Market Authority · Morocco · National Authority for Integrity, Prevention and Anti-Corruption · National Authority for Integrity, Prevention, and Fight against Corruption · Parliament of Morocco