The African Development Bank (AfDB) and the Ministry of Economy, Finance and Administration Reform signed on Monday a grant agreement of nearly one million US dollars intended to support the services of the head of government to implement the business climate improvement and recovery support project.
The main objective of this partnership, which intervenes in the context of the crisis linked to Covid-19, is to support the improvement of the business environment in order to consolidate the resilience of the Kingdom in the face of the pandemic and to promote the recovery of its economy. , indicates the AfDB in a press release.
“Maintaining in these times of crisis the momentum of reforms that improve the business climate is a priority to protect entrepreneurship and preserve business growth,” said Mohamed El Azizi, AfDB Managing Director for Africa. North, cited in the press release.
This partnership, he argued, is all the more important since it comes at a time when Morocco is mobilizing all of its vital forces to successfully end the crisis from above.
The said partnership will thus help speed up the implementation of measures to improve the business environment in Morocco. More generally, it will make it possible to support the agenda of priority reforms in the economic and social fields, to support its sectoral application and to strengthen its monitoring mechanisms through a series of thematic workshops that will promote the sharing of information. experience and good practices.
The AfDB has supported Morocco in its response to the health crisis by providing more than 380 million euros (M €) through the Support Program for the response to Covid-19 (PARC-19) and the additional financing of the Support program for improving social protection (PAAPS-FA Covid-19).
Morocco was among the founding members of the ADB in 1964. The Bank’s commitment to Morocco amounts to more than ten billion euros cumulative, with financing covering various sectors, including health, energy, water, transport, human development, agriculture and the financial sector.