Morocco has decided to contribute to the 16th replenishment of the African Development Fund (ADF-16), the concessional window of the African Development Bank (AfDB) Group, Minister of Economy and Finance Nadia Fettah, AfDB Group governor for Morocco, announced Monday in Tangier.
“This decision reiterates the Kingdom’s willingness and commitment to African countries, in line with His Majesty the King’s enlightened vision for a united and prosperous Africa,” Fettah said in a speech read on her behalf by Industry and Trade Minister Riyad Mezzour at the opening of the fourth and final meeting of the 16th replenishment of the ADF.
In this context, Fettah appealed to development partners to generously increase the ADF’s means within the framework of this 16th replenishment of its resources, despite the difficult context.
“Given the particular context and the magnitude of the challenges facing our continent, especially the most vulnerable countries, the Kingdom of Morocco believes that the time has come for African countries to join the efforts of traditional ADF donors to support the Fund’s beneficiary countries in accelerating their development and strengthening their resilience to better meet the growing challenges,” the Minister noted.
“The importance of supporting low-income African countries is no longer in question,” she stressed, adding that support to these countries, particularly affected by the consequences of the multiple crises that have hit the world and the continent in particular, must be continued and strengthened.
According to her, the ADF is a relevant, effective and innovative instrument, capable of providing an adequate response to the needs of the most vulnerable African countries.
“An African Development Fund with more resources would significantly increase its contribution to the achievement of the African Union’s Agenda 2063, the Sustainable Development Goals and Africa’s climate change commitments,” she argued.
In this regard, Fettah hailed the establishment of climate adaptation as an overarching prism of ADF-16 priorities and operations, alongside the fragility prism, in recognition of the growing impact of climate on the lives and livelihoods of people in ADF countries.
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