A German loan of more than 1.6 billion dirhams to support financial system reforms in Morocco

The Minister of Economy and Finance, Nadia Fettah, and the director of the KFW office in Rabat, Markus Faschina, signed two financing contracts relating respectively to a subsidized loan of 1.67 billion DH (150 million dirhams). euro) and a donation of 165 million DH (15 million euro), granted to Morocco under the second phase of the “Project Support for Reforms of the Financial System in Morocco”.

November 24, 2022 at 2:06 p.m.

Modified November 24, 2022 at 2:52 p.m.

The Minister of Economy and Finance, Nadia Fettah, and the director of the KFW office in Rabat, Markus Faschina, signed two financing contracts relating respectively to a subsidized loan of 1.67 billion DH (150 million dirhams). euro) and a donation of 165 million DH (15 million euro), granted to Morocco under the second phase of the “Project Support for Reforms of the Financial System in Morocco”.

Quoted in a press release, the minister underlined the importance of this funding, which comes as a continuation of the German support, granted in 2020, under the first phase of the project, and which aims to support and accompany the priority projects of reform undertaken by the Moroccan authorities for the development of the financial sector, particularly in the areas of financial inclusion, capital markets and financial stability.

The Minister also returned to the German Initiative “Partnership for Reforms”, launched within the framework of the “Compact with Africa” (CwA), and in which this funding falls. In this respect, and while emphasizing the importance of this Initiative, the Minister underlined the perfect alignment of the CwA with the priorities of our country in terms of private sector development and the promotion of local and foreign investments.

November 24, 2022 at 2:06 p.m.

Modified November 24, 2022 at 2:52 p.m.