The AfDB hails the coherence of Morocco's development plan and the resilience of its economy

The President of the African Development Bank (AfDB), Akinwumi Adesina, praised Tuesday in Marrakech, the coherence of Morocco’s development plan and the resilience of its economy, which has demonstrated its ability to successfully emerge from the crisis linked to the Covid-19.

“I salute the Moroccan authorities for the consistency of their development plan and the resilience of the economy. Morocco has demonstrated its ability to successfully emerge from the Covid-19 crisis, thanks to the dynamism of its government, the courage of its population and the strength of its private sector, under the enlightened leadership of His Majesty King Mohammed VI.”said Akinwumi Adesina at the opening of the general meeting of shareholders of Africa50, an event placed under the High Patronage of King Mohammed VI.

Akinwumi Adesina, also Chairman of the Board of Directors of Africa50, has, in this sense, considered that Morocco is ” A model in Africa on many important issues, such as the generalization of social protection, regional integration, agricultural innovations, digital transformation and also on the crucial issue of climate transition.

In this sense, he recalled that the Kingdom is home to the solar complex to which belongs the “Noor Ouarzazate” power plant, the largest concentrated solar power plant in the world, which was financed by the African Development Bank.

Morocco is also an important financial hub, with “Casablanca Finance City”, which facilitated the installation of Africa50, as well as with the major banking groups of the Kingdom which invest in several African countries, he said. added.

Returning to the relations between Morocco and the AfDB, he said that Rabat and this pan-African financial institution have been linked by a “historic” partnership for more than half a century, with more than 170 operations financed in the Kingdom, for more than 12 billion US dollars.

In addition, Morocco was one of the first countries to support the creation of Africa50 (….) and which houses its headquarters, said the President of the AfDB, noting that the Kingdom also wants to be a major shareholder with double title: through the participation of the State and that of Bank Al Maghrib in the capital of Africa50. In the process, he reiterated his full commitment to further strengthen this collaboration between the two parties. Held under the theme “An Accelerated and Resilient Recovery”, the Africa50 General Meeting of Shareholders brought together several African finance ministers and other government officials, as well as heads of institutions, diplomats and heads of companies from Morocco, Africa and elsewhere.

Africa50 is an investment platform created by African Heads of State and the AfDB, whose mandate is to develop and invest in infrastructure projects with high impact in terms of development, through the mobilization of public funds and private, while offering an attractive return to investors.

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