The loan is meant to improve life quality and create jobs in rural areas as part of Morocco's decentralization plan. With the decentralization, Morocco aims to transfer key powers and resources to local officials, and enable the regional authorities to have greater control of local economic development. “We are pleased with this first partnership with the FEC,” AfDB’s director general for the North Africa region, Mohamed El Azizi, said in a statement. “With this operation, we are consolidating the resources available to local authorities. AfDB’s funding also focused on the private sector (11.2) and agriculture (9.4%).

Source: The North Africa Journal November 29, 2019 15:56 UTC