The program is part of the US pledge to accelerate investments in Morocco, to the tune of a total of $5 billion.
Rabat – The US and Morocco are partnering to promote further investments and trade in Morocco through a new investment program.
As part of its commitment to contribute to the development of Morocco, the U.S. Embassy in Morocco, through the U.S. Agency for International Development (USAID) has partnered with the Wilaya and Regional Council of Beni Mellal-Khenifra. The partners are aiming to create more economic opportunities for women, young people, people with special needs, and rural populations.
In a press release, USAID announced the allocation of $18 million for the Inclusive Socio-Economic Development (ISED) pilot program that will fund the project for a five-year period.
The 2021-2025 program aims to “support the region in achieving its development priorities by strengthening participatory governance and improving opportunities for economic growth and job creation.’
The project was jointly designed by USAID, the Wilaya, the Regional Council, and stakeholders in the region. The collaboration made it possible to identify regional priorities, opportunities, and challenges, while consulting on the best approaches to achieve the above-mentioned objectives, according to the press release.
The implementation of the regional development program is entrusted to a consortium led by Family Health International 360. The consortium brings together the Financial Services Volunteer Corps / LixCap, Mississippi State University, and the local non-profit Intilaka AIDECA Association.
The launching of the program comes after the US pledged, through the US International Development Finance Corporation (DFC) to expand American investment in Morocco with an envelope amounting to $5 billion to make it an economic hub for Africa.
The USAID has designated Morocco as its regional center for the Prosper Africa Trade and Investment Program.
The launching ceremony took place in the Wilaya of Beni Mellal. The event was attended by Khatib El Hebil; Wali of the region of Beni Mellal-Khenifra and Brahim Moujahid, president of the Regional Council. The US was represented by David Greene; the recently-appointed Chargé d’Affaires of the US Embassy in Morocco. Also participating were regional actors representing the private sector, higher education, professional training, local government institutions, and civil society.