Friday , June 18 2021

Two ADB financial support for Morocco

Recently grouped in Abidjan, Côte d'Ivoire, the Board of Directors of the African Development Bank Group approved two funding supports for Morocco.
The first financial support, worth 75 million Euros, aims to support the extension and modernization of the Rabat-Salé International Airport.
"This loan will help to know the increase in air traffic, a growing economic zone around the Moroccan capital and meet the growing logistical needs of economic operators in the country," said the ADB.
The financial contribution of ADB to Marro should also contribute to "expanding large-scale infrastructure and equipment to guarantee quality service, in accordance with international standards, allowing the country to manage air traffic with an average growth of 6% per year," he said the Pan-African institution emphasizing that this loan is aligned with its Ten-Year Strategy 2013-2022 and its transport development policy.
In addition, as the Bank has indicated, this operation is in line with two of its five key priorities: "Integrating Africa" ​​and "Industrializing Africa."
For Mohamed El Azizi, General Director of AfDB for the North African Region, it is clear that "the development of Morocco's fate and the strengthening of its logistics competitiveness is a strategic priority for the African Development Bank to promote the conditions for sustainable growth and shared ".
Along the same lines, Leila Farah Mokaddem, the director of the Bank's country in Morocco, said that with this project, capacity, freight and passenger transportation, the Rabat-Salé International Airport would have to quadruple.
In addition, "this development dynamic will be included with the expected creation of 1,700 direct jobs", he added.
The second support, which amounts to 117 million euros, aims to support the implementation of the sustainability project and guarantee of access to safe drinking water in Morocco. More precisely in the provinces of Guercif, Zagora, Al Hoceima, Tánger and Beni Mellal that have 2.5 million inhabitants.
The support of the African Development Bank for this project is "a strategic contribution". Mohamed El Azizi, the first executive of the Bank for the North African region, is convinced: "Guaranteeing access to quality drinking water for all is the precondition for any form of sustainable development."
For AfDB, ensuring sustainable access to safe drinking water to meet the needs of the population and industrial operators allows the program to meet two of its five priorities. That is: "Improve the living conditions of African populations" and "Industrialize Africa".
In fact, as Leila Farah Mokaddem pointed out, "this is a project that will help further improve the living conditions of millions of Moroccans."
Even referring to this project, the AfDB noted that it is aligned with the priorities of the 2016-2020 investment plan of the National Office of Electricity and Potable Water (UNE). ) from Morocco.
As the financial institution reminded in its statement, the collaboration between the Kingdom of Morocco and the African Development Group Group has more than 160 projects and programs totaling a financial commitment of more than 8.8 million euros.
"This funding, which is more than 80% dedicated to the basic infrastructure, covers various sectors, including energy, water, transport, agriculture and social development," he said.

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