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Rabat – Morocco’s Head of Government Aziz Akhannouch met with Akinwumi Adesina, the Head of the African Development Bank (AfDB) today in Rabat. Finance Minister Nadia Fettah was also at the meeting.
The AfDB head called the country a leader in Africa and a rising global player. “Under King Mohammed VI, this country is leading the way — stable, strong, and moving up in the world,” he said in a statement.
Adesina also thanked King Mohammed VI for his backing of the AfDB. He pointed to Morocco’s role in hosting the Africa Investment Forum, which he said drew major attention.
Akhannouch returned the compliments: “We’ve done great things together,” he said, according to the press release, “but let’s push for more. Morocco’s transformation needs all the support it can get.”
The bank said it is on board to help Morocco successfully host the 2030 World Cup, with funds ready to be deployed for building new and extending current railways and airports.
Morocco is considered a top client for the AfDB. The bank has already invested $3.6 billion, and an extra $1.5 billion is going towards mega projects in infrastructure, finance, and more.
Meanwhile, The AfDB and Bank of Africa have signed today in Rabat a €50m agreement during the Africa Investment Forum, which runs until 6 December. The deal will help fund private businesses and trade in Africa.
Specifically, the agreement helps local businesses support businesses in key sectors such as farming, transport, and telecoms.
Ahmed Rashad Attout from the AfDB said the partnership aims to drive €200m in trade, according to the press release. This will focus on small and medium-sized businesses in 20 African countries.
BOA’s Khalid Nasr called the deal “a key step” for African trade. We’re helping businesses reach their full potential. This is what Africa needs,” he said.
The Africa Investment Forum aims to attract investments and drive growth across Africa with transformative ideas and a brighter future.
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