Morocco, African Development Bank ink USD649.5M agreements for digitization, development


(MENAFN) On Wednesday in Rabat, Morocco and the African Development bank signed four financing agreements totaling €600 million (USD649.5 million) aimed at supporting the digitalization of Moroccan universities. These agreements also seek to enhance territorial competitiveness, promote the sustainable development of forest areas, and facilitate the construction of a highway between the cities of Guercif and Nador.

The signing ceremony featured Fouzi Lekjaa, Morocco's Minister Delegate in charge of the Budget, and Ashraf Tarsim, the African Development Bank's Resident Representative in Morocco. The agreements are designed to bolster university education, finance industrial projects for young people, create jobs, and improve competitiveness to attract more investors. Additionally, they aim to optimize forest use and environmental conservation efforts.

A key aspect of the agreements is to ensure better connectivity for the new Nador West Med port through an improved road network, which is expected to enhance the competitiveness of investors. This initiative aims to contribute to the development of human capital, promote Moroccan economic integration, and strengthen the partnership between the public and private sectors. 

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