The Minister of Economy, Finance and Administration Reform, Mr. Mohamed BENCHAABOUN, and the German Federal Minister for Economic Cooperation and Development, Mr. Gerd Müller, proceeded on Friday 29 November 2019, in Berlin, to the signing of a memorandum for the establishment of the "Reform Partnership" which is a bilateral contribution of Germany in the framework of the G20 Initiative "Compact with Africa".
This new Partnership involves a support program with a financial envelope of 571 million euros over the period 2020-2022, to support the implementation of the reforms undertaken by the Kingdom, particularly with regard to improving the business and investment climate, financial sector reform and strengthening advanced regionalization, with the aim of further developing the potential of the private sector and to promote sustainable economic growth that creates more jobs. This program focuses in particular on facilitating access to financing and improving framework conditions of support and the development of SMEs and start-ups in order to make them a real lever for economic and social inclusion.
On this occasion, Mr BENCHAABOUN praised Morocco's invitation to join the German Partnership for Reform initiative, which constitutes a new recognition of the pioneering and avant-garde role of His Majesty King Mohammed VI, and which is in line with the priority reform projects launched by the Kingdom. At the signing ceremony of the memorandum, the two Ministers particularly welcomed the excellent relations of cooperation and friendship between Morocco and Germany and reiterated the shared desire of both parties to further develop these relations.
During this meeting, the minutes of the last session of the Intergovernmental Negotiations and Consultations on Development Cooperation, which took place in Rabat on 31 October and 1 November 2019, were also signed by the Director of European Affairs at the Ministry of Foreign Affairs, African Cooperation and Moroccans Residing Abroad, Mr. Redouane Adghoughi, and the Central Director General at the German Federal Ministry for Economic Cooperation and Development, Mr. Bernhard Felmberg.