Highlights

Moroccan-German Financial and Technical Cooperation: Signing of three Agreements amounting to € 701.3 Million : 22/07/2020

Moroccan-German Financial and Technical Cooperation: Signing of three Agreements amounting to € 701.3 Million

Mr. Mohammed BENCHAABOUN, Minister of Economy, Finance and Administration Reform, and Mr. Götz SCHMIDT-BREMME, Ambassador of the Federal Republic of Germany in Rabat signed three Moroccan-German Financial and Technical Cooperation Agreements amounting to € 701.3 million as loans and grants in favor of Morocco.

This event reaffirms the excellent relations of cooperation and friendship linking Morocco and Germany as well as the relevance of the areas of action of this cooperation which focus on priority sectors of the development of Morocco in particular: (i) the promotion of renewable energies and energy efficiency (ii) sustainable economic development (iii) water resources management.

The signing of these agreements also lays a new cornerstone of the Moroccan-German Cooperation, particularly under the “reform partnership” to support Morocco in its reform momentum, especially in its projects of reform of the financial sector, improving business and investment climate, and strengthening advanced regionalization, with the aim of further developing the potential of the private sector and promoting sustainable economic growth that creates employment.

Mr. BENCHAABOUN and Schmidt-Bremme reiterated the will of the two countries to work together to implement the projects under the signed agreements and to reinforce this cooperation.