The African Development Bank Group (AfDB) approved $487 million in financing for Morocco on Wednesday in Abidjan to accelerate economic transformation and support more inclusive, resilient growth.
As part of its third phase, the Programme to Support the Strengthening of Economic Governance and Resilience to Climate Change (PGRCC-Phase III) aims to enforce the role of the private sector as a driver of investment and value creation, while refocusing the State on its strategic functions, the AfDB states in a press release.
"Our ambition is to help cushion exogenous shocks, whether economic, energy-related or climate-related. It is also to consolidate the structural reforms necessary to sustainably strengthen the resilience of the Moroccan economy and to promote private investment," said Director for Governance and Economic Reforms at the African Development Bank Group, Abdoulaye Coulibaly.
This operation is part of the Bank Group’s strategic vision guided by its Four Cardinal Points and aligns with the Kingdom’s strategic priorities, which aim to accelerate the transformation of the economy and durably strengthen its resilience.
"Morocco has chosen to take action by continuing its reforms despite external shocks," emphasized the Bank Group’s Country Manager in Morocco, Achraf Tarsim. "Our aim is to support this vital momentum to accelerate the transformation of the economy, sustain growth, and create more jobs," he added.
The first part of the funding will focus on optimizing the channels of public action. It will support the restructuring of the portfolio of public companies, the modernization of the public-private partnerships framework, and the improvement of the business climate.
The goal is to create conditions for increased mobilization of private investment by supporting small and medium-sized companies, innovation, and integration into global value chains.
The second component will help strengthen the Kingdom’s climate and energy resilience by modernizing the governance of the water and electricity sectors and better integrating climate-related issues into public policy. It will thus help accelerate the transition to a low-carbon economy.
This third phase of the program will help to consolidate reforms initiated during the previous phases, while supporting Morocco as it deals with the impacts of the crisis in the Middle East, especially the rise of energy and transport costs.
In this context, the operation forms part of the African Development Bank Group’s Global Energy and Fertiliser Crisis Response Framework (GEFCRF) and combines a counter-cyclical response with resilience-building, helping to preserve fiscal space and priority spending, while maintaining momentum for reforms and investment.
Since 1978, AfDB has mobilized around $16 billion for more than 150 projects in Morocco, in key sectors such as transport, energy, water and sanitation, agriculture, and social protection.
MAP: 22 October 2026
