The visit promotes the new initiatives the US announced last month after Trump’s decision to recognize Morocco’s sovereignty over Western Sahara.
Rabat – Adam Boehler, CEO of the US International Development Finance Corporation (DFC), traveled to Morocco this week to explore opportunities for private sector investment.
A statement from the US Embassy in Rabat said Boehler arrived in Morocco to promote the new initiatives the DFC launched in December, which will mobilize $5 billion in investments in Morocco and elsewhere in North Africa.
“I am happy to be back in Morocco, to explore investments that can increase economic opportunities, particularly the economic empowerment of women” in Morocco and throughout North Africa.
He added that the DFC appreciates the strong partnership between Morocco and the US.
Adam Boehler and US Ambassador to Morocco David Fischer met several senior officials, including Minister of Industry Moulay Hafid Elalamy.
The visit reflects the US’ unwavering support for Morocco’s territorial integrity.
The DFC also announced that it is working with the Small Business Assistance Fund (SEAF) to create a $100 million package.
The US development finance institution will potentially provide around $50 million.
The fund will focus on market opportunities and respond to endemic challenges facing Morocco.
It will support small and medium-sized enterprises (SMEs) operating in impact sectors such as agriculture, health, industry, water and sanitation, and clean energy.
The program also seeks to advance women’s empowerment.
In Rabat, DFC’s Boehler also signed a letter of interest (LOI) with Morocco’s OCP Group to support projects that would boost agricultural productivity in sub-Saharan Africa.
The document seeks to support the group’s innovative model, which offers sustainable fertilization as well as agronomic services to African farmers.
The DFC funding would aim to expand OCP’s work in fertilizer production across Africa, which is essential for food security throughout the continent. Letters of Interest are subject to the DFC’s full review, as well as its approval process.
Boehler’s visit comes just a few weeks after his official trip with the US delegation that visited Morocco on December 22.
Trump’s son-in-law and senior advisor Jared Kushner led the delegation.
During the visit, the US delegation signed a joint declaration with Morocco and Israel.
The joint declaration highlighted the US’ decision to recognize Morocco’s full sovereignty over its southern provinces. The document also serves as a commitment agreement from the three parties to boost cooperation at all levels, including trade.