Morocco and the African Development Bank (AfDB) have just signed four financing agreements totaling €604 million.
The new financial resources granted by the AfDB to Morocco are intended to support the digitization of universities, the competitiveness of regions, and the enhancement of the Kingdom's forests. The pan-African bank thus commits alongside the Kingdom to support the transition of universities towards a more digital, entrepreneurial, and inclusive dynamic.
There will also be a focus on improving regional competitiveness and strengthening the integrated and sustainable development of forest areas. This financing will also enable the construction of a highway between Guercif and Nador.
"The signing of these four agreements is significant. It demonstrates the excellence of the partnership between the Kingdom of Morocco and the African Development Bank. These are historic relations that continue today," stated Fouzi Lekjaa, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, at the signing ceremony of the agreements.
The first loan agreement, amounting to €120 million, will finance the Support Program for Transformation towards a Digital, Entrepreneurial, and Inclusive University. It will support the objectives of the Acceleration Plan for the Transformation of the Higher Education, Scientific Research, and Innovation Ecosystem (ESRI 2030), which takes into account sector needs, introduces entrepreneurship into curricula, includes regions to encourage excellence and innovation.
The second agreement, amounting to €200 million, will establish the Regional Competitiveness Improvement Program. It will help to energize and expand local industrial bases, attract more investors, and create more local jobs.
The third operation, financed to the tune of €200 million, will support the construction of the Guercif-Nador highway, which is 104 kilometers long. It will strengthen the connectivity and attractiveness of the Oriental region by linking the future Nador West Med port and the Betoya industrial and logistics activity zone.
The fourth agreement, totaling €84 million, will launch the Integrated and Sustainable Development Project for Forest Areas. It will not only address the water cycle during severe drought periods but also enhance value chains, support forestry and aquaculture entrepreneurship, and preserve biodiversity while improving carbon sequestration capacities.
