Rabat – The African Development Bank (AfDB) has approved a €150 million credit line for the Municipal Equipment Fund to contribute to local development across Morocco.
In a statement, the bank said the fund seeks to help local authorities invest in sustainable infrastructure, climate resilience, and territorial connectivity, especially in rural areas.
The fund will notably focus on road and transport infrastructure mobility, access to drinking water as well as socio-economic projects like sports facilities and educational initiatives, it added.
Achraf Hassan Tarsim, the AfDB’s country manager for Morocco, noted that the bank’s approval of this funding package is the second of its kind with the Municipal Equipment Fund, which he described as a strategic partner for the continental bank
“It strengthens the rollout of territorial development projects in line with the highest environmental and social performance standards,” Tarsim detailed.
Ahmed Attout, Director of the AfDB’s Financial Sector Development Department, echoed these remarks. Supporting the municipal fund reflects the AfDB’s commitment to contributing to the emergence of more resilient, inclusive, and dynamic territories, he argued.
The investment aims to boost employment opportunities, helping strengthen the ability of local authorities to act and contribute to Morocco’s socio-economic development.
Local authorities welcome similar initiatives for the potential to accelerate development and improve services.
However, converging reports continue to express concerns over the rise in external debt.
Recent estimates indicate that Morocco’s external debt stood at $67.99 billion last year. The number is slightly better than in 2023, when total debt reached $69.63 billion.
