Morocco: AfDB publishes its intervention strategy for 2014-2016
The African Development Bank (AfDB) has released the mid-term review of its operations in Morocco for the years 2012 to 2016, which defines the nature and focus of its actions for the next three years. This publication also provides an update on the performance and results of current AfDB operations in the country.
The Bank welcomes the strong performance of the Moroccan economy, reflected in an average annual growth rate of 4.2% between 2009 and 2013, despite a difficult international and regional context.
The Bank also stressed the commitment shown by the Moroccan authorities since 2011 to lead several important reforms, including improving the efficiency of the administration and the management of public finances - without threatening macroeconomic stability.
Since 2012, the Bank has made US $1.8 billion of funding available to Morocco.
Moroccan authorities still face many challenges ahead: strengthening the dynamism of the private sector, improve export competitiveness, tackling youth unemployment, reducing regional disparities, promoting the participation of women in economic life and water sustainability.
To do this, AfDB has fine-tuned its areas of intervention in Morocco over the period 2014-2016 with a growth diagnosis, conducted jointly by the Moroccan Government and the Millennium Challenge Corporation. The Bank's intervention strategy in the country is also in line with its Ten Year Strategy (2013-2022).
In this context, priority was given to two lines of action: improving governance and improving infrastructure, in order to boost the competitiveness of the economy while ensuring a better distribution of the benefits of growth to the entire population. To achieve such inclusive growth, it is still necessary to improve the State's efficiency in terms of social welfare and access to basic services in the most disadvantaged areas.
Another priority of AfDB in Morocco, specified in the new Country Strategy Paper is to support a "green" Moroccan economy, by encouraging the development of renewable energy and better water management.
All these objectives were set after extensive consultations with the authorities of the Kingdom, the private sector, civil society and other development partners. The Bank will also support Morocco's ambitions in Sub-Saharan Africa.