The Board of Directors of the African Development Bank has approved the allocation of over €300 million to implement programs aimed at stimulating the Moroccan economy and creating job opportunities.
This allocation includes support and funding for entrepreneurship to generate employment (PAFE-Emplois) and the second phase of the program for enhancing economic governance and climate resilience (PGRCC II).
### Stimulating the Economy
The African Development Bank highlighted that the second phase of the economic governance and climate resilience program is allocated €181.8 million. Its objective is to revitalize the Moroccan economy and strengthen its resilience to external shocks, particularly those related to climate. The program is designed to enhance competitiveness, private investment, and economic resilience by modernizing key water and energy sectors.
The bank noted that this initiative will contribute to establishing a new development model in Morocco, notably through encouraging investment under the new investment charter.
### Creating Job Opportunities
Furthermore, the African Development Bank stated that the entrepreneurship support and funding program (PAFE-Emplois), valued at €119 million, aims to boost job creation. This will be achieved by promoting entrepreneurship and supporting micro, small, and medium enterprises. The program seeks to instill a results-oriented culture, particularly in terms of employment impact.
The initiative aims to support public measures for assisting entrepreneurs, enhance inclusive entrepreneurship financing, and promote innovative employment approaches to create job opportunities. This project is expected to support a new employment roadmap to enhance professional integration and entrepreneurship.
In a statement, Ashraf Tarsim, the resident representative of the African Development Bank in Morocco, mentioned, “These two new initiatives work synergistically and effectively complement each other.” He emphasized that they share goals of enhancing economic competitiveness, building resilience to shocks, and stimulating robust investment and entrepreneurship—key levers for creating opportunities and jobs for youth and women.
It is noteworthy that for over half a century, the African Development Bank has mobilized nearly €15 billion to finance more than 150 projects and programs in the kingdom, covering strategic sectors such as transport, social protection, water and sanitation, energy, agriculture, governance, and the financial sector.
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