May 28, 2024
Morocco’s Country Strategy Paper (CSP) for the years 2024–2029 has been accepted by the African Development Bank Group Board of Directors.
In order to foster robust, sustainable growth, stabilize the dynamics of economic and social inclusion, and enhance the competitiveness and resilience of the Moroccan economy, this roadmap will support the priorities of the Kingdom’s new development model through 2035.
“This new strategy sets the course, objectives and pace of our investments over the next five years in the Kingdom, our leading partner on the continent, with over 12 billion euros mobilized in strategic sectors,” said Achraf Tarsim, the Bank’s Country Manager for Morocco. “The Kingdom is a source of inspiration, a country that proves that vision, capacities and resources can make emergence a reality. With this new vision, our ambition is to move to the next level and strengthen the excellent partnership that has united us for almost 60 years”.
The two main objectives of the roadmap are to increase inclusive growth via entrepreneurship, employability, and skill development, and to fortify the economy’s resistance to external shocks by putting in place sustainable infrastructure.
With its innovative “water-energy” nexus approach, the new CSP will enable the development of more integrated projects that mitigate water stress and promote robust, equitable growth.
The new country strategy, which is the outcome of extensive consultations with both public and private partners, builds on the lessons learned from the previous CSP, which contributed to the consolidation of Morocco’s notable advancements in socioeconomic growth.
Over the course of the previous vision’s 2017–2023 period, the Bank mobilized close to 3 billion euros to support Morocco’s efforts to expand access to social coverage, modernize health infrastructure, and increase access to drinking water. It also contributed to the development of road, port, and airport transportation, which increased mobility within and between regions as well as globally, and accelerated the dynamics of advanced regionalization.
According to the findings throughout that time, the Bank increased health insurance coverage from 62% in 2017 to 100% in 2023 and assisted five million people in gaining access to clean drinking water. Broadly speaking, this strategy strengthened the nation’s industrial basis by fostering the growth of small and medium-sized businesses, especially those engaged in exporting.
(Source: African Development Bank Group)
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