Mrs. Nadia FETTAH, Minister of Economy and Finance, and Mrs. Alice Usanase, Vice President and Head of International Cooperation Relations at the African Finance Corporation (AFC), signed a memorandum of understanding aimed at consolidating and strengthening cooperation relations between Morocco and this institution.
On this occasion, the Minister welcomed the signing of this memorandum of understanding, which is an important step in strengthening cooperation relations between Morocco and the African Finance Corporation. It also reaffirms the continued commitment of the Kingdom of Morocco to develop projects for the progress of Africa, in line with the vision of His Majesty King Mohammed VI to strengthen South-South cooperation.
The memorandum of understanding concluded between the two parties, which comes after the accession of our country to this institution in 2021, aims to create favorable conditions for the development of business relations and investment between the African Finance Corporation and Moroccan economic actors.
To this end, the memorandum of understanding provides for the implementation of several levers of cooperation between the parties in favor of Moroccan economic actors wishing to develop new projects in Morocco or explore the investment opportunities available in the country's African members of the company, especially in the infrastructure sector. The actions proposed in this framework include support for the structuring and financing of projects, support for the development of Morocco's strategic sectors and strengthening the export capacity of Moroccan companies.
As a reminder, the African Finance Corporation is a multilateral financial institution created in 2007 at the initiative of Nigeria with the aim of providing solutions for infrastructure development in Africa, in particular by supporting the development and financing of high value-added projects, to increase productivity and economic growth in African countries.
Based in Nigeria, the foundation's primary mission is to promote economic growth and industrial development in African countries, while providing a competitive return on investment to its shareholders.