18 °C Partly cloudy Rabat

Wednesday 21 February 2018

EBRD Determined to Continue Supporting Morocco in Improving Business Climate, President

Vocal synthesis
EBRD Determined to Continue Supporting Morocco in Improving Business Climate, President

President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti reiterated, on Tuesday in Rabat, EBRD's readiness to continue supporting efforts made by the Moroccan government to improve business environment and back up the entrepreneurial fabric, especially small and medium-sized enterprise.

According to a statement by the head of government's office, Chakrabarti said, during his meeting with the head of government Saad-Eddine El Othmani, that the Bank is also ready to support the Moroccan leadership in the field of clean energy and green economy, and contribute to the success of the Kingdom's main sectoral strategies.

Currently on a visit to Morocco, the President of EBRD expressed his great satisfaction with the partnership between the Kingdom of Morocco and the bank given that the latter's investments in the Kingdom over the past five years have reached about 1.5 billion euros, two-thirds of which went to the private sector.

Chakrabarti welcomed, in this regard, the progress made by the national economy in the development process and the efficiency of the reforms implemented in Morocco, especially in terms of economic transition, which contributed to strengthening the Kingdom's partnership with leading international financial institutions, the statement said.

For his part, the head of the government reviewed a series of economic and social reforms that the government is working on implementing, particularly with regard to strengthening the major economic balances and increasing the contribution of the industrial sector in the GDP to 23% by 2020.