AfDB Grants $1 Million to Boost Morocco’s Business Climate and Economic Recovery

Supporting the improvement of the business environment in order to consolidate the resilience of the kingdom in the face of the pandemic and promote the recovery of its economy. This is the scope of the agreement signed between the AfDB and the Moroccan Ministry of Economy, Finance and Administration Reform, on Monday.

"Maintaining the momentum of reforms that improve the business climate in these times of crisis is a priority to protect entrepreneurship and preserve business growth. This partnership is all the more important as it comes at a time when the kingdom is mobilizing all its energies to succeed in a high-road crisis exit," said Mohamed El Azizi, Director General of the African Development Bank for North Africa.

Specifically, the partnership will help accelerate the implementation of measures to improve the business environment in Morocco, support the agenda of priority reforms in the economic and social fields, support its sectoral implementation and strengthen the monitoring mechanisms through a series of thematic workshops that will promote the sharing of experience and best practices, it is specified on the website of the financial institution.

This is not the first time that the AfDB has provided support to Morocco since the appearance of the coronavirus. The kingdom has benefited from more than 380 million euros through the Covid-19 Response Support Program (PARC-19) and the additional financing of the Social Protection Improvement Support Program (PAAPS-FA Covid-19).