Meeting on the performance of the portfolio of the African Development Bank in Morocco : 02/11/2012

Meeting on the performance of the portfolio of the African Development Bank in Morocco

The Ministry of Economy and Finance held, November 1st 2012, together with the African Development Bank (ADB), a consultation workshop on the theme: "The review of the performance of ADB`s portfolio in Morocco in 2012".

On this occasion, a press conference was given by the ADB Resident Representative in Morocco, Mrs. Amani Abou-Zeidat the headquartersof the MEF. During this meeting with the media, Mrs. Abou-Zeid stated that Morocco is a privileged partner of the Bank, being its first partner on the African continent.

The head of the Bank`s office in Morocco also stressed that the review of the ongoing projects in Morocco displays a very satisfactory level of performance, with anactive portfolio of 27 transactions and net liabilities of 26 MM DH.

Mrs. Abu-Zeid also, provided an overview of the BAD`s sector based commitments in Morocco, 90% of which is concentrated in infrastructure projects.

The latter consist of projects in the sectors of renewable energy(30%), transportation (27%), water and sanitation (16%). Other commitments contribute to public reforms sector (10%), private sector (10%) and Agriculture. For the representative of the ADB in Morocco, the initial findings of the portfolio performance review confirm the successful implementation of the Bank`s operations in Morocco, with a very satisfactory overall portfolio performance.

She also confirms the appropriateness of the Bank`sfunding mechanisms in Morocco, the positive contribution of the operations to the achievement of national development objectives and the strategic alignment of theBank`s assistance with the projects of other technical and financial partners`, she added.

In her speech, Mrs. Abou-Zeid paid tribute to the joint efforts of the MEF and the agencies responsible for the implementation of actions and projects, which resulted in an overall portfolio performance.

Finally, and within the framework of her answers to the questions of the journalists presentat the press briefing, the Representative of the BAD affirmed that the prospects for the partnership between the BAD and Morocco are very promising, "thanks to the commitment and the efforts of the Moroccan officials, who support actions in line with the developmentneeds, in particular as regards governance, medical insurance and adaptation to the climate changes.