Participation of Morocco in the meetings of the World Bank and the International Monetary Fund : 23/04/2017

Participation of Morocco in the meetings of the World Bank and the International Monetary Fund

Mr. Mohammed BOUSSAID, Minister of Economy and Finance, at the head of a large delegation, participated in the meetings of the World Bank and the International Monetary Fund (IMF),held in Washington, April 21st to 23rd 2017. ​

On this occasion, and within the framework of the continuity of the Morocco’s commitments at the COP22 held in Marrakech in November 2016, the Minister of Economy and Finance co-chaired with the World Bank the launch of the “Climate Action Peer Exchange” (CAPE Partnership) platform, initiated by Morocco in close collaboration with the Bank.

This event, which brings together the finance ministers of member countries, aims to promote national financial policies for climate action, including budget and fiscal policies as well as the implementation of budget planning and the expenditure systems of public investment encouraging low Carbon economy.

During his speech, Mr. BOUSSAID presented Morocco’s efforts in terms of adaptation and mitigation. He thus recalled the significant efforts made by Morocco, under the guidance of His Majesty King Mohamed VI, with respect to the fulfillment of the commitments under the Nationally Determined Contribution (NDC) of Morocco to reduce the emissions of greenhouse gases by 42% compared to expected emissions by 2030. He took this opportunity to invite the participating ministers and representatives of countries to join this initiative and to provide the assistance necessary for its success.

The Minister of Economy and Finance also took part in the high-level meeting held by the World Bank on climate financing.

On this occasion, Mr. Mohammed BOUSSAID called for international support and the mobilization of sustainable concessional financing, in particular to serve as a lever for the mobilization of private resources.

On the other hand, as part of the initiative of the G20 ‘Compact with Africa’, the Minister of Economy and Finance chaired the meeting with bilateral and multilateral partners on the progress in the preparation of the Compact-Morocco. Mr. Mohammed BOUSSAID outlined the objectives of the Moroccan economic approach as well as the plans and reforms that can be integrated within the Compact-Morocco to support private investment including infrastructure.

In his speech, the Minister of Economy and Finance encouraged the partners to be further involved in this initiative in order to give it more credibility.

​In terms of relations with partners, Mr. Mohammed BOUSSAID met with the finance ministers of France, Ghana and Guinea-Conakry, as well as the President of the African Development Bank Central (BDEAC). These meetings focused on ways and means to reinforce and enhance cooperation relations with Morocco.