AfDB Grants $500,000 to Boost Morocco’s African Economic Integration

Morocco, the second largest African investor on the continent, has concentrated around 80% of its foreign direct investment (FDI) in Africa, compared to the 2013-2017 period, for a total value of nearly $3.7 billion. This is what justifies this agreement, which is a first on the continent, in order to truly support the development of Moroccan companies in sub-Saharan Africa and to develop, by 2020, a mapping of intra-African economic and trade exchanges.

It must be recognized that this agreement supports the roadmap defined by the CGEM’s "Economic Diplomacy, Africa and South-South" Commission. For Leila Farah Mokaddem, AfDB Resident Representative in Morocco, it is a source of pride for the Bank to strengthen South-South cooperation. According to her, the Bank is pleased with this partnership and the quality of the relationship. The President of the CGEM, Salaheddine Mezouar, for his part, stressed the importance of the agreement in helping the SMEs of his country. He did not fail to return to the important role of the private sector.