The European Bank for Reconstruction and Development (EBRD) has outlined a new five-year strategy (2024-2029) for its partnership with Morocco.
This strategy, developed alongside the Moroccan government, focuses on three key areas to foster inclusive and sustainable economic growth in the country.
Firstly, the EBRD will support Morocco’s transition towards a private-sector-driven economy, involving financial tools and advisory services to help Moroccan businesses, particularly small and medium-sized enterprises (SMEs), integrate into global markets and develop a strong domestic capital market.
The Bank will also promote deeper regional economic integration and solidify Morocco’s position as a gateway to Africa.
Additionally, the EBRD will assist with reforming state-owned enterprises and expanding the country’s public-private partnership program.
Secondly, the strategy recognizes the need for inclusive growth that benefits all citizens. Through targeted investments and policy programs, the EBRD said it seeks to improve access to finance and advisory services for these groups, while also addressing skill gaps in the workforce.
Additionally, the Bank will focus on reducing development disparities between regions, specifically supporting areas affected by the recent earthquake.
Finally, the EBRD acknowledges Morocco’s efforts towards a green economy and intends to support these initiatives further. This includes financing water conservation projects, improving overall water management practices, and addressing water scarcity.
The Bank will also encourage further investment in renewable energy sources and climate adaptation measures, propelling Morocco towards carbon neutrality.
Building upon its previous successes in Morocco, the EBRD is committed to fostering continued economic growth and positive social change.
EBRD said its new strategy reflects feedback from various stakeholders, ensuring a collaborative and successful partnership for the future.
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