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Rabat – Morocco’s Minister Delegate for Investment, Convergence and Evaluation of Public Policies Mohcine Jazouli, said that the World Bank and the African Development Bank (AfDB) are ready to continue their support for Morocco’s development in public or private investment.
“Morocco’s main investor partners reiterate their support to the New Development Model (NDM) and the government’s programs to boost productivity and create more job opportunities,” said Jazouli.
He spoke following a meeting alongside the World Bank’s Vice President for the MENA region Ferid Belhaj, and the Regional Director General for North Africa at the AfDB Mohamed El Azizi.
The new model that calls for a human-centered approach to development has been in development for over a year before its unveiling. It was originally announced in the 2019 Throne Day speech. The new development model calls for serious reforms in education, health, agriculture, investment, as well as taxation.
The North African country will soon implement the framework of the NDM to expand its economic growth and investment opportunities in various sectors, especially in renewable energies.
The Minister also highlighted the potential and challenges of investment in Morocco, including the need to strengthen private investment, and the importance of directing investment towards sectors that create employment and added value.
Jazouli discussed with representatives the potential ways of collaboration in terms of financial and technical support to improve the business climate, boost investment in the Kingdom, and converge public policies.
Ferid Belhaj stressed that the meeting with the Minister was an opportunity to enhance collaboration between the Bank and Morocco, underlining Morocco’s attractiveness in investments, especially in the private sector.
“We are willing to cooperate with Morocco,” he added.
For his part, the representative of the African Development Bank (AfDB) in Morocco, Ashraf Tarsim, said that the meeting focused on the implementation of the NDM with the aim to achieve sustainability and resilient growth.
The AfDB has been active in Morocco since the 70s, with more than 12 billion euros in investments.
The AfDB concluded the meeting by reaffirming its commitment to support Aziz Akhennouch’s government to implement its policy.
