Since the relationship began, the financial institution has invested more than 12 billion dollars in 170 different projects in favour of the Kingdom's economic and social development

Marruecos y el Banco Africano de Desarrollo celebran más de medio siglo colaborando

photo_camera REUTERS/LUC GNAGO - African Development Bank (AfDB) Headquarters in Abidjan, Côte d'Ivoire

During more than half a century of relationship, the financial institution is committed to continue supporting the dynamic of reforms carried out by the Kingdom, while helping to finance projects in different sectors. At the end of a five-day visit to Morocco, the directors of the African Development Bank Group (AfDB) praised the Moroccan government's vision for development and the progress the country has made.

Comprising a dozen managers, the Bank Group delegation met with government officials, representatives of the authorities and the private sector, and undertook a series of meetings and field visits in order to assess the Bank's action in the country and better understand its development prospects.

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The visit began with Nadia Fettah Alaoui, Minister of Economy and Finance, in order to assess and modify certain aspects aimed at deepening the partnership. "We thank the African Development Bank for the support given to our country in the implementation of several structural reforms and infrastructure projects, which have considerably favoured a better inclusion of populations, in particular young people and women," she said. In response, the delegation's spokesperson, Désiré Guedon, insisted that "the partnership between Morocco and the Bank is exemplary... We will use it to accelerate the dynamics of Morocco's emergence". In particular, she stipulated that "Morocco must play a driving role for other African countries through the exchange of experiences".

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This collaboration is the result of bilateral support from both parties. It is worth recalling that Morocco was one of the first nations to support the creation of Africa50 and the main shareholder, with Bank Al Maghrib (BAM) in its capital. Africa50 is an investment platform designed by African heads of state and the AfDB. The purpose of its creation is to significantly strengthen the African continent's infrastructure in terms of development and innovation across multiple sectors, thus enabling the attraction of investors to the continent.

The AfDB has supported several projects in Morocco visited by its delegation, such as the drinking water pumping and treatment station at the Oum Azza site, where "joint achievements have enabled 15 million inhabitants, thirty Moroccan cities, to benefit from improved water supply and distribution systems", according to the leaders, and the Rabat-Agdal station as part of the project to increase the capacity of the railway axis linking Tangier to Marrakech. 

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Africa 50, the pan-African infrastructure investment platform created by African governments and the African Development Bank, concluded on Wednesday an investment agreement in the Holged group, subject to the approval of the Moroccan Competition Council, according to a press release. Holged is a group that integrates leading educational establishments, from kindergartens to terminals, with more than 15,000 students affiliated to 4 reference educational brands. 

This investment will further accelerate the sustained expansion of the Holged group's network of schools, which owns the Yassamine and Al-Jabr schools in Morocco, specifies the investment platform's press release. Since the start of its activities in 1986, Holged has made many efforts to provide access to quality primary and secondary education that caters to various market segments.

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