Morocco, which obtained the status of`` potential recipient country of the European Bank for Reconstruction and Development`` (EBRD), participated for the first time, at the meetings of the Board of Governors of the Bank, whose 22th session held May 10th and 11th 2013 in Istanbul, represented by the Minister of Economy and Finance, Mr. Nizar Baraka.
The Kingdom was selected as the EBRD`s potential recipient country, together with Egypt, Jordan and Tunisia, within the framework of the extension of the Bank`s mandate in the southern and eastern Mediterranean region (SEMED).
Mr. Baraka, at the head of a delegation composed of Mr. Mohamed Lotfi Aouad, Morocco`s ambassador to Turkey, Mrs. Fawzia Zaaboul, Director of Treasury and External Finance Department, and Mr. Abdelali Eddebbagh, Division head of the Balance of Payments Department at the same direction, participated in a roundtable of Governors of the EBRD on the theme of`` support growth in an uncertain recovery environment.``
This meeting was an opportunity to focus on the EBRD new plans , based on strengthening the financing of Small and Medium Enterprises (SMEs), inclusive growth (youth employability, inclusion of women, etc.) regional and rural development and the flexibility of EBRD operations, stated Mr. Baraka.
Before the final ratification of the agreement, the EBRD began its operations in Morocco, where about 23 million euros were mobilized on a budget of 180 million, allocated to all the countries of the southern Mediterranean (Morocco, Egypt, Jordan and Tunisia),specified the minister.
These financing are part of the EBRD fund in this region which amounts to 1 billion euros. , and could reach up to 2.5 billion euros in 2015 with the end of the ratification process, he stressed.
`` The EBRD developed considerable expertise in supporting the SMEs sector when assisting Eastern Europe in its economic transition. In this sense, we believe that their support for the development of Morocco, particularly the private sector, is very timely,`` the minister said.
During this event, Mr. Baraka focused on the expectations of Morocco, particularly in terms of support for SMEs and VSEs (very small Enterprises) and internationalization and integration of Moroccan SMEs in terms of global trade.
He also stressed Morocco`s efforts in the field of inclusive growth including the National Initiative for Human Development (NIHD) and the steps implemented to support young job creators and women entrepreneurs as well as gender approach where the Kingdom is very advanced.
In addition, the Minister stated that the infrastructure aspect should be taken into account in the EBRD projects, particularly with regard to energy efficiency and renewable energy. He also called on the Bank to support the `` green growth" development.
Mr. Baraka took the opportunity to share Morocco`s commitment to work towards a better regional integration.
The speakers are considering, for two days, the means of restoring growth both through technological innovation and finance as well as increased competitiveness, support for SMEs and promoting the best talents of entrepreneurship.