The African Development Bank (AfDB) will provide Morocco $200 million for the first stage of its programme to accelerate industrialization. Agreement for the financing was signed last Friday, July 14th, in Abidjan, by the Moroccan ambassador near Ivory Coast, Abdelmalek Kettani, and Célestin Monga, Chief Economist and Vice President, AfDB, in charge of economic governance and knowledge management. Also present at the signing ceremony was Morocco’s representative at AfDB, Abdelmajid Mellouki.
Steered by the Moroccan ministry of Industry, the 2015-2020 industrialization acceleration programme aims at stimulating the cherifian kingdom’s economic growth. By 2020, the government aims at bringing processing’s share in the country’s GDP to 23%, against 14% now, and generate about 500,000 jobs in the sector.
Let it recalled that the pan-African Bank released, through 32 various interventions in multiple sectors including transport, power, water and sanitization, and agriculture as well, more than $2.6 billion for Morocco.
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