The African Development Bank (AfDB) lent Morocco €434.4 million ($479 million) on Friday to help the North African nation strengthen its resilience against energy and climate-related shocks.
Signed directly with the Moroccan government, the loan forms part of a broader programme designed to improve the domestic business climate, bolster environmental adaptability, and attract private-sector investment.
According to the bank, the funding will also cushion Morocco against economic spillovers from the Middle East crisis, specifically rising energy and transport costs.
The financing package will directly support structural reforms across Morocco’s state-owned enterprises, expand public-private partnerships, and strengthen governance in the water and electricity sectors.
This latest agreement builds on the lender’s deepening financial engagement in the country, following its issuance last month of a maiden 1 billion dirham ($100 million) bond that officially added the Moroccan currency to the bank’s financing toolbox.
