The Minister of Economy and Finance, Mrs. Nadia FETTAH, received, Wednesday November 27, 2024, at the Ministry's headquarters Mr. Bader Mohammad Al-Saad, Director General and Chairman of the Board of Directors of the Arab Fund for Economic and Social Development (AFESD), who is on a working visit to Morocco from November 27 to 29, 2024, accompanied by a large delegation of AFESD officials.
The meeting was an opportunity to review the various aspects of cooperative relations between Morocco and the Arab Fund for Economic and Social Development (AFESD), and discuss ways of strengthening and developing them, in line with the various development strategies and programs launched by Morocco under the wise leadership of his majesty king Mohammed VI, may God assist him.
At the outset of the meeting, the Minister praised the quality of the partnership relations between the Arab Fund and the Kingdom of Morocco, expressing her thanks to Bader Mohammad Al-Saad for the Fund's ongoing support of the development process in Morocco. In addition to the Fund's ongoing support for the government's efforts in traditional sectors such as infrastructure, Mrs. FETTAH expressed her aspiration to strengthen the partnership between the two parties in supporting the Moroccan private sector and promoting public-private partnership. These are important for the realization of the Kingdom's development projects and the strengthening of the private sector's leading role in wealth and job creation.
In the same context, the Minister underlined Morocco's readiness to commit and contribute to the success of the new AFESD strategy for the period 2025-2030, presented by the Director General and Chairman of the AFESD Board of Directors at the meeting. In addition, she called for the development of a roadmap for bilateral cooperation with AFESD that includes a diagnosis of the Kingdom's priority development needs in parallel with the development priorities targeted by AFESD.
For his part, Dr Bader Mohammad Al-Saad reviewed the main features of the new AFESD 2025-2030 strategy, which identifies five priority sectors. This includes, namely energy, water and sanitation, transport and logistics, healthcare and education, supported by five thematic areas, including job creation and economic growth, reducing inequalities, supporting adaptation and resilience, strengthening regional integration and cooperation, and supporting technological innovation and digitization.
Mr. Bader Mohammad Al-Saad also underscored the Fund's permanent readiness to continue supporting the Kingdom's development efforts and accompany Morocco in the structuring projects that have been initiated.
About the Arab Fund for Economic and Social Development
The Arab Fund for Economic and Social Development (AFESD) is an Arab financial institution established in 1974 to help Arab countries develop their economies by providing loans, technical assistance and institutional support in various areas of development. The Fund's interventions in Morocco amounted to $1.12 billion over the 2015-2023 period, covering sectors vital to the national economy, including highways, ports, dams, drinking water and irrigation.
