French Development Agency Invests €405.8 Million in Morocco for 2018, Up 60% in 3 Years

During a press conference devoted to the 2018 review of AFD’s activities in Morocco, Mihoub Mezouaghi informed the audience of the significant financial support that the Agency will have provided for the achievement of the Kingdom’s development projects and policies in 2018. "The AFD has invested 405.8 million euros, an increase of nearly 60% in 3 years," he stressed.

These financings "those carried by the Proparco subsidiary, dedicated to the private sector, which amount to 20.2 million euros for 2018," specifying that between "2017 and 2021, a total of 2 billion euros of investments will be made by the AFD in Morocco.

These commitments are reflected in loans and grants to the State and public companies and allow the financing of capacity building actions, technical assistance or studies.

For the first time in Morocco, the Green Climate Fund has been mobilized by the AFD, thus enabling the financing of an irrigation and adaptation project for oasis agriculture to climate change in the province of Errachidia. He also added that the Agency intends to go further, with "an investment level of more than 400 million euros this year".