Morocco, African Development Bank Sign Financing Agreement.

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Morocco has signed three financing agreements with the African Development Bank  (AfDB) worth more than 2.9 billion dirhams ($281.96 million), the Morocco state news agency (MAP) reported on Tuesday.

The first agreement would finance a health infrastructure program with about $126.4 million, while another agreement would support a social coverage program with about $155.6 million.

The third agreement is for financing an emergency assistance project following the deadliest earthquake in the country’s recent history in September, with $1 million.

The three agreements were signed by Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, Faouzi Lekjaa, and AfDB Resident Representative in Morocco Achraf Tarsim, in the presence of Minister of Economic Inclusion, Small Business, Employment and Skills, Younes Sekkouri and Minister of Health and Social Protection, Khalid Ait Taleb.

Lekjaa praised the quality of cooperation relations between Morocco and the AfDB, hailing the institution’s “valuable and constant” support to the kingdom, particularly in carrying out structural reforms in a range of fields.

Meanwhile, Tarsim emphasized that these agreements, which enable the AfDB to demonstrate its solidarity with Morocco, will be used in particular to finance two related operations, namely the extension of social coverage and the development of health infrastructure.

“These initiatives, actions, and projects reflect the strong and historic relationship that the Kingdom of Morocco and the AfDB have enjoyed for over half a century. A partnership that is exemplary on the continent and has a bright future ahead of it”, he said.

Ait Taleb highlighted the importance of the agreements signed in supporting Morocco’s reforms, particularly in strengthening the resilience of the healthcare system and upgrading health infrastructures.

Sekkouri, in a statement, noted the importance of this partnership with the AfDB, crowning as it did, Morocco’s achievements in several fields, notably in improving employability.

The AfDB has been a close development actor in Morocco. Recently, the bank mobilized more than $422 million in funding healthcare and the development of a sustainable road network in the country.

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