Signing ceremony of financing agreements with KfW for the project "Support to financial system reforms in Morocco
23/11/2022
Mrs. Nadia FETTAH, Minister of Economy and Finance and Mr. Markus FASCHINA, Director of the KfW Office in Rabat, signed, Wednesday, November 23rd 2022, two financing contracts for a loan of 150M€ and a grant of 15M€ respectively, granted to Morocco under the second phase of the Project "Support to the Reforms of the Financial System in Morocco". His excellency Mr. Robert Dölger- Ambassador of the Federal Republic of Germany to Morocco also attended this meeting.
On this occasion, the Minister stressed the importance of this financing, which follows on from the German support granted in 2020 under the first phase of the project. The latter aims to support and accompany the priority reform projects undertaken by the Moroccan authorities for the development of the financial sector, particularly in the areas of financial inclusion, capital markets and financial stability.
Mrs. FETTAH also referred to the German "Partnership for Reforms" Initiative, launched within the framework of the "Compact with Africa" (CwA), which includes this financing. In this regard, and while stressing the importance of this Initiative, the Minister emphasized the perfect alignment of the CwA with the priorities of our country in terms of private sector development and promotion of local and foreign investments.
Mrs. FETTAH took this opportunity to recall the excellence of economic and financial cooperation relations between Morocco and Germany and the importance of continuing efforts to further raise these relations to the level of the ambitions of both countries.
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