| Project Detail |
Management hereby submits the proposal to award a loan of EUR 120 million to the Kingdom of Morocco, from the resources of the African Development Bank, to finance the first phase of the Economic governance and resilience to climate change support program(GRCCP). This programme is designed as a multi-sector policy-based operation covering the years 2024, 2025 and 2026. It is a response to a request made to the Bank by the Moroccan Government in April 2024. The programmatic approach adopted will allow the Bank and Morocco to deepen dialogue on strategic issues (restructuring of public enterprises, governance reforms in the water and electricity sectors, etc.), improve the sequencing of reforms and enhance the predictability of financing.
Project Objectives
The programme’s objective is to boost the Moroccan economy and increase its resilience, including to exogeneous shocks, including climate events, in order to enable it to achieve higher growth levels. It aims to contribute to lay the foundations for a development model that allows the State to refocus on its strategic functions and sector regulation and enables the private sector to serve as a vector for wealth and job creation.
Beneficiaries
Supported reforms will benefit the countrys entire population. Better governance of SOEs will enable public funds to be more efficiently managed. Additional resources will be allocated to the financing of development initiatives (in education, health, etc.). The private sector will also benefit due to reforms which will be supported and which will help in the creation of new investment opportunities. Similarly, improving the business environment will help to reduce the informal sector, thereby creating a more favourable environment for SMEs. |
