Morocco maintained its position as the largest recipient of AFD’s funding in the African continent with a total of €2.9 billion.
Rabat – As a testament to the strong political and economic relations between Morocco and France, the French Development Agency (AFD) announced that Morocco receives the bulk of the agency’s funding in Africa, with €2.9 billion as of October 15, 2018.
In 2017, AFD provided Morocco with €431 million in loans for project funding, AFD’s country manager for Morocco, Pascal Collange, said Thursday in Paris.
The French agency will continue to provide technical assistance and fund development projects in the Kingdom, Pascal added.
“Our relationship with Morocco is of exceptional importance and the cooperation that unites us is growing more and more thanks to the mutual trust and know-how of both sides,” Collange stressed.
Congratulating the economic policy Morocco adopted in Africa through strong investments in various sectors, Collange said that France, through AFD, ”will support and accompany this successful policy for the benefit all parties.”
Collande also noted that Morocco’s return to the African Union is a victory for the future of Africa.
Collande explained the objectives of the AFD 2017/2021 strategy for Morocco, which aim “to promote inclusive and sustainable growth, enhance human capital and contribute to the attractiveness of the country.”