Morocco gets AfDB loan to continue reform programme

29 Jul 15

The African Development Bank is to provide a $112m loan to Morocco to support reforms for government investment and procurement.

The funding will back the AfDB’s Programme to Support the Competitiveness of the Moroccan Economy, which is undertaking a series of reforms designed to improve the efficiency of government spending. These are focused on the areas of public investment, procurement and improvements to financial management, including the implementation of sectoral budgets.

“The AfDB stressed that the authorities have put significant structural reforms in place throughout recent years that have improved the macroeconomic fundamentals and sustained growth,” the bank said.

“This is why the AfDB has every confidence in Morocco’s ability to implement these programmes for the reform and capacity-building of institutions, in order to promote stronger, more resilient and more inclusive growth.”

Economic growth in the north African nation slowed down last year, but is expected to pick up momentum in 2015, due to the strong performance in exports, low oil prices and its progre

  • Judith Ugwumadu
    Judith Ugwumadu

    Judith writes about public finance, public services and economics across Public Finance International and Public Finance. She previously undertook reporting stints at Financial Adviser, Global Security Finance and The Sunday Express.

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