Morocco’s Municipal Equipment Fund: AfDB Approves €150 Million to Strengthen Territorial Development Dynamics

This operation will enable Moroccan local authorities to invest in sustainable infrastructure, strengthening access to essential services, climate resilience and territorial connectivity, particularly in rural areas, the AfDB said in a press release.

Priority will be given to road and transport infrastructure to facilitate mobility, drinking water supply, urban renewal, as well as the development of educational, sociocultural and sports facilities, the same source added.

“This operation is the second with our strategic partner, the Municipal Equipment Fund. It strengthens the deployment of territorial development projects in line with the highest environmental and social performance standards,” said Achraf Hassan Tarsim, AfDB Country Manager for Morocco, as quoted in the press release.

“By supporting the Municipal Equipment Fund in strengthening its capacities, we are contributing to the emergence of more resilient, inclusive and dynamic territories,” stressed Ahmed Attout, Director of the Financial Sector Development Department at the Bank.

These territorial investments, with strong economic and social impact, will foster new employment opportunities and help strengthen the capacities of local governments and their contribution to Morocco’s socio-economic development.

The operation supports the decentralization momentum launched by the Kingdom and will contribute to diversifying and reinforcing the country’s productive capacities, while accompanying growth in strategic economic sectors.

In line with the AfDB Group’s “High 5s” and Morocco’s New Development Model, this project will help support the country’s development and sustainably improve the quality of life of the population, the press release concluded.

Editorial team/le7tv