The Minister of Economy and Finance and the USAID Director sign an agreement to finance the inclusive socio-economic program : 03/07/2019

The Minister of Economy and Finance and the USAID Director sign an agreement to finance the inclusive socio-economic program

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance and Mrs. Brooke Isham, Director of the United States Agency for International Development (USAID) in Morocco, signed, July 3rd 2019 in Rabat, a loan agreement between the Government of the Kingdom of Morocco and USAID amounting to US $ 94 million (about 846 million dirhams).

This event was attended by Mrs. Jennifer RASAMIMANANA, Consul General of the US in Morocco, Mrs. Mounia BOUCETTA, Secretary of State to the Minister of Foreign Affairs and International Cooperation in addition to representatives of the Ministry of Interior, the Ministry of National Education, Vocational Training and Higher Education.

In his address, the Minister first welcomed the excellent Moroccan-American cooperation relations that are being strengthened at the present time by signing a loan agreement with USAID to finance the inclusive socio-economic development program.

As such, he pointed to the free trade agreement concluded between the Kingdom of Morocco and the United States of America in 2006, stressing thus the achievements since it becomes effective as Moroccan exports to the United States have more than doubled and the US exports to Morocco quadrupled.

In addition, the Minister expressed the wish to see the American investments increase in Morocco. He also thanked the USAID office in Rabat for its continuous efforts to consolidate and develop these cooperation links.

On the other hand, Mrs. Jennifer RASAMIMANANA stressed the "Career Centers" that benefited about 200,000 young people. She emphasized the dynamism and creativity of Moroccans when they work together with the Americans.

The USAID Director stated that the signing of this agreement is the beginning of "a new era" of collaboration between the Agency and Morocco.

The Inclusive Socio-Economic Development Program, signed by both sides focuses on three components:

  • An integrated local development program that will cover the sectors of economic growth and governance in the pilot regions of Marrakech-Safi and Beni-Mellal Khenifra.
  • The establishment of a public-private partnership, one of which focuses on the creation of a virtual reality (VR) and augmented reality (AR) technology center within a university institution.
  • ​Support for activities that strengthen community resilience, by building the capacity of key institutions and civil society organizations to provide services to youth at risk in vulnerable groups.