AfDB Commitments to Morocco Hit Record €1.3 Billion in 2025

Marrakech – The African Development Bank’s financial commitments to Morocco reached a record high of nearly €1.3 billion in 2025, the bank’s country manager for Morocco, Achraf Tarsim, told the state news agency MAP on the sidelines of the AfDB’s annual assemblies in Brazzaville.

The assemblies, running through May 29 under the theme of mobilizing large-scale resources for Africa’s development, have gathered over 3,000 participants, including heads of state, finance ministers, central bank governors, and private sector leaders.

Tarsim noted that the record financing reflects the depth of the strategic partnership between Morocco and the bank. He described it as a shared commitment to accompany the structural transformation of the Moroccan economy.

A deep, strategic partnership

The largest share of the commitments, €420 million, went to infrastructure and connectivity. Of that amount, €270 million was allocated to the modernization of airports in Marrakech, Agadir, Tangier, and Fez. The project covers terminal expansions, a new control tower in Marrakech, taxiway development, and the deployment of advanced security and baggage handling technologies.

An additional €150 million was directed to the Fonds d’Equipement Communal to strengthen local governments’ investment capacity. That funding targets drinking water, sanitation, educational infrastructure, mobility, and public facilities, with systematic integration of climate resilience and environmental sustainability criteria.

The bank also mobilized €182 million to support economic governance and resilience in the water and energy sectors, along with the capacity to absorb external shocks. Another €119 million was earmarked for entrepreneurship and the development of very small and medium enterprises, aimed at stimulating job creation and strengthening the national economic fabric.

Agriculture received €100 million to promote inclusive farming through support for women and youth entrepreneurship in rural areas, modernization of agricultural infrastructure, and improved access to financing.

The record commitments come on the heels of two major operations approved in recent days. Last week, the AfDB’s board approved a €200 million financing package for the “Cap Compétences 2030” program, a results-based initiative designed to strengthen employability among youth and women.

The program rests on three pillars: skills development and strategic partnerships, inclusive training aligned with business needs, and digital transformation of the vocational training sector. Tarsim stated that the shared objective is to leverage Morocco’s demographic dividend to support value creation and promote employment.

Low-carbon industrial financing

Also last week, the AfDB and OCP Group signed a €450 million partial credit guarantee, the first of its kind in Morocco. The mechanism is designed to help Société Générale and BNP Paribas mobilize up to €530 million in green financing to support OCP’s 2023-2030 investment program.

The funds will finance projects focused on reducing greenhouse gas emissions, expanding renewable energy capacity, and improving water and energy efficiency across OCP’s industrial operations. OCP Chief Financial Officer Younes Kchia called it a decisive step toward a low-carbon, circular industrial model.

The Annual Meetings also produced broader findings on Morocco’s economic trajectory. In its 2026 African Economic Outlook report, the AfDB projected Morocco’s GDP growth at 4.2% in 2026, driven by household consumption and infrastructure investment.

Agriculture, manufacturing, construction, and tourism are expected to remain the main growth engines. Inflation is forecast at 2.4% in 2026 and 2.3% in 2027. The current account deficit is projected to widen to 3.5% of GDP in 2026 before easing to 3.4% in 2027, while the fiscal deficit is expected to decline to 3.7% in 2026 and 3.2% in 2027.

The report flagged risks from maritime disruptions in the Strait of Hormuz, which could raise input costs for fertilizers and energy prices for net petroleum importers. Proactive climate risk management and trade diversification would mitigate the impact, the bank noted.

Separately, the AfDB’s 2025 Africa Industrialization Index ranked Morocco as the continent’s top industrial economy for the first time. Morocco scored 0.8415 in 2024, narrowly surpassing South Africa at 0.8396. The bank attributed the shift to sustained industrial modernization, export diversification, and effective implementation of industrial policy.