Highlights

Mr. Driss El Azami El Idrissi attended the annual meetings of the African Development Bank (AfDB) Group : 22/05/2014

Mr. Driss El Azami El Idrissi attended the annual meetings of the African Development Bank (AfDB) Group

​​Mr. Driss El Azami El Idrissi, Minister Delegate to the Minister of Economy and Finance, in charge o​f the Budget participated in the annual meetings of the African Development Bank (AfDB) held in Kigali, Rwanda, May 22nd and 23rd 2014.

The Minister Delegate for the Budget was accompanied by a delegation of senior officials from the Treasury and External Finance and the (AfDB) Executive Director for Morocco.

At the first meeting, the Board of Governors reviewed and approved the reports and activities of the Bank during the year 2013 as well as the financial statements of the institution.

During this meeting, the Board of Governors also approved the creation of the "Africa growing together fund " (AGTF) ​​which take the form of a trust fund to be managed by the (AfDB), with $ 2 billion available to the AfDB by the People's Bank of China. Similarly, the Board of Governors approved the allocation of an amount of $ 30 million to the Africa 50 Fund approved by AfDB in April 2014.

At this first meeting, the Board of Governors was informed of the approval of (i) the creation of Africa 50 Fund, which is an innovative financing instrument of the AfDB to finance commercially viable infrastructure projects in Africa and (ii) the amendment of the credit policy of the Bank to enable creditworthy low-income African countries to benefit from additional funding through access to AfDB financing.

Within the framework of the measures proposed to reinforce the financial strength of the AfDB, the Board of governors was briefed of its discussions with other multilateral banks of development in order to minimize the concentration risk of the AfDB portfolio and this, in order to provide the AfDB with more flexibility to grant financing to member countries

The second session of this event was devoted to the dialogue of Governors on the theme "The next 50 years: Africa that we want", focusing on topics related to strategic political leadership, regional integration, job creation and the reduction of conflict and fragility. During this dialogue, the Minister Delegate in charge of the Budget reported that the successful transformation of Africa and its strong growth in the next 50 years require a leadership with a clear vision and long-term policies and coherent strategies, supported by stable and effective institutions and an environment conducive to business.

Referring to the Moroccan experience, Mr. Driss El Azami El Idrissi highlighted the momentum for reform and progress led by His Majesty the King and stressed the significant progress of Morocco on political, economic and social fields. The Minister took the opportunity to reiterate the fundamental importance that Morocco gives to develop its relations with Africa. He noted in this context that this strategic choice under the reign of His Majesty King Mohammed VI, took a special and active dimension within the frame of a medium- and long-term perspective giving a new impetus to South-South cooperation and contribute efficiently and effectively to the development effort of our continent.

These Annual Meetings of the AfDB were also an opportunity for the Minister Delegate in charge of the Budget to meet its African counterparts to focus discussions on subjects of mutual interest and ways that strengthen relations between Morocco and the African countries.

Thus, Mr. Driss El Azami El Idrissi held talks with the Minister Delegate to the Prime Minister of Finance of the Democratic Republic of Congo, which focused on strengthening cooperative relations between the two countries, particularly in the financial field. Similarly, Mr. Driss El Azami El Idrissi met with the President of the AfDB to discuss the various aspects of cooperation between Morocco and the AfDB.

These meetings bring together more than 2,000 people with the participation of 53 African Ministers of Economy and Finance and 25 countries representing three continents (America, Europe and Asia) participating in the capital of the Bank as well as representatives of several regional and international financial organizations.