The Minister of Economy and Finance chairs a meeting between the President of the “ADB” and several Ministers : 19/07/2016

The Minister of Economy and Finance chairs a meeting between the President of the “ADB” and several Ministers

Mr. Mohammed BOUSSAID, Minister of Economy and Finance, received Wednesday, July 20th, 2016 in Rabat, Mr. Akinwumi ADESINA, President of the African Development Bank “ADB”.

After the meeting, Mr. BOUSSAID chaired a meeting that brought together the President of the “ADB” with the Minister of Agriculture and Maritime Fishing, Mr. Aziz AKHANOUCH, Mr. Aziz RABBAH Minister of Equipment and Transport and Mr. Mamoune BOUHDOUD, Minister delegate to the Minister of Industry, Trade, Investment and the Digital Economy, in charge of Small Businesses and the Informal Sector Integration.

In his statement to the press, the President of the “ADB” who emphasized that Morocco is the first customer of the Bank, congratulated the Moroccan Government and particularly the Ministry of Economy and Finance for having ensured the stability of macroeconomic framework by reducing the budget deficit and declining the level of external debt in GDP. He also announced to grant Morocco a loan amounting to $ 157 million for the State budget.

Mr. ADESINA stressed the significance of the Kingdom of Morocco for Africa, stating that 90% of Moroccan investments abroad are directed towards Africa.

He also noted that the African Development Bank intends to support Morocco in its considerable efforts in the field of renewable energy, industry, agriculture and infrastructure.

The President of the “ADB” showed his great satisfaction as to the level achieved by the Kingdom in electrification and drinking water connection which is respectively totalling about 99% and 97%. The development of the automotive sector also attracted Mr. ADESINA who considers the creation of 30,000 entrepreneurs in this sector important.

In addition, the President of the “ADB” invited Morocco to participate in the Fund established by the “ADB” to promote African women.

On the other hand, the Minister of Economy and Finance stressed the excellent relations between Morocco and the “ADB”, noting in this regard that this institution is a key partner in a number of areas.

Mr. BOUSSAID welcomed the joint priorities between Morocco and the “ADB”, priorities that can be seen in the importance attached to regional integration in Africa, renewable energy, the industrialization of the continent, the development of agriculture and infrastructure.

The Minister asserted that Morocco contributes naturally and spontaneously at the development of the African continent. He noted the presence of the Moroccan private sector in African countries and stressed the preferential treatment given to these countries particularly as for customs duties. Mr. BOUSSAID highlighted the regional integration in Africa as a priority of His Majesty the King.

To be noted that the ministers who attended this meeting made presentations, each within his own field, to the President of the “ADB”, on the progress mad​e by the Kingdom.