German Development Bank, IFE Launch Initiative for Job Creation in Morocco

Rabat – The German Development Bank (KfW) and its subsidiary, the Facility Investing for Employment (IFE), have officially launched their call for proposals for projects in Morocco with a high potential for job creation.

KfW and IFE made the announcement during a press conference held on May 25 in Rabat, highlighting that they are calling for proposals for investment projects that seek to create stable, quality jobs in Morocco.

Under this program, projects selected will receive grants ranging from 1 million to 10 million euros per project. The grants will contribute between 25% and 90% of the overall investment, depending on the specific category of the project.

The call for proposals is open to companies as well as public and non-profit organizations interested in submitting investment proposals, with the submission period running from June 1 to June 30, 2023.

During the press conference, representatives from KfW and IFE Facility, along with public and private partners, outlined the program’s objectives, criteria, expectations, and competitive selection process.

Speaking about the initiative, Director of KfW’s Morocco office, Janne Rajpar, said, “Through this call for project proposals, the mutual objective we share with our partners is to help stimulate sustainable and inclusive growth in Morocco. This call for project proposals demonstrates our ongoing commitment to supporting initiatives with high social and economic impact.”

Rajpar added: “We look forward to discovering the innovative and promising proposals that will emerge from this call, and how they could contribute to a more prosperous and sustainable future for Morocco.”

Hicham Chahir, IFE Country Director for Morocco and Senegal, expressed delight at launching this “unprecedented” initiative, citing its comprehensive approach to targeting all sectors that can create stable jobs.

Chahir also emphasized the unique nature of the subsidized investments, which encompass construction, development, equipment, and the financing of start-up working capital requirements

Interested parties across various sectors now have the opportunity to present their investment projects that have the potential to generate substantial employment and drive economic development in the country.