Morocco and the AfDB, a success story

By Faisal Ismaili 05/29/2022 at 7:37 pm.

General view of the headquarters of the African Development Bank in the plateau of the business district in Abidjan, Cte d’Ivoire on June 5, 2020.

© Copyright: Issouf Sanogo / AFP

Kiosk360. The partnership with Morocco was highlighted on the sidelines of the 57th edition of the annual meetings of the African Development Bank (ADB) in Accra on Friday 27 May. This article is a press review from the daily newspaper Aujord’hue Le Maroc.

The synergy between the Kingdom and the African Development Bank (AfDB) was welcomed during the 57th edition of the annual meetings of the African Development Bank (AfDB) held in Accra. On the occasion, the President of the Bank reaffirmed the commitment of his institution to support the dynamics of the country’s economic and social reforms, particularly the implementation of the New Development Model (NMD), reports Morocco today In its May 30 issue.

The bank’s financial support for the benefit of the national economy represents an active portfolio of approximately $4 billion, which includes some forty operations, the newspaper revealed, based on filtered data.

In the context of the crisis, Morocco has been able to cope, underlines the AfDB. The newspaper specifies that by supporting the private sector and investing in human capital, Morocco has shielded its productive fabric from the uncertainties of the health crisis and is on a recovery path consistent with the orientation of the NMD. The result: an increase of 7.2% in Morocco’s economic growth in 2021, i.e. +0.5% compared to the African average.

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Today, facing the effects of conflict and difficult climatic conditions in Ukraine, the AfDB forecasts growth for Morocco at 1.8% in 2022 and 3.3% in 2023. As for inflation, it must exceed the 4.4% threshold before returning to normal. in 2023.

Given the success of the collaboration with Morocco, the AfDB aims to replicate the feat of the Noor Ouarzazet complex through the Desert to Power Project, a $20 billion project aimed at supplying energy to 250 million people in those countries. are those who make it. Sahelian Strip.

by Faisal Ismaili

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