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Friday 3 November 2017

AFD to Increase Funding Commitments in Morocco to € 400 Million Per Year (CEO)

Vocal synthesis
AFD to Increase Funding Commitments in Morocco to € 400 Million Per Year (CEO)

The French Development Agency (AFD) intends, starting this year, to increase its funding commitments in Morocco to reach 400 million Euros per year, said its chief executive officer (CEO), Remy Rioux.

"Thanks to the increase of our equity capital, we will be able to reach this year 400 million Euros of new commitments per year," Rioux told Moroccan French-speaking daily "L'Economiste" in an interview, published on Thursday.

He also noted that this renewed capacity will enable AFD to intensify its cooperation as part of a new country strategy on the enhancement and protection of human capital, social cohesion, reduction of spatial disparities, and energy and ecological transitions.

AFD will continue to support Morocco on these key issues, paying particular attention to gender equality, he said, expressing the Agency's willingness to support Morocco in its projects on the African continent.

Rioux also recalled that the Kingdom is the first beneficiary of AFD financing with cumulative commitments of almost 6 billion Euros since the start of the Agency's activities in 1992, and that it is also the first beneficiary of the financial commitments of the French State in the region as well as the payments of the AFD in the world (2008-2016).

In Morocco, AFD is particularly active in the areas of transport, water, sanitation, agriculture, energy, education and vocational training, he said.

MAP 02 November 2017