Madar (Rabat) - The board of the African Development Bank Group on Wednesday, October 21, 2026, in Abidjan approved $487 million in financing for Morocco to speed up the structural transformation of its economy and support more inclusive growth that is resilient to external and climate shocks, according to a bank statement carried by the daily Aujourd'hui le Maroc.
The financing is the third phase of the programme supporting stronger economic governance and resilience to climate change (PGRCC-III), which seeks to boost the private sector's role as a driver of investment while refocusing the state on its strategic functions.
The first component supports restructuring the state-owned enterprise portfolio, modernising the public-private partnership framework, improving the business climate and backing SMEs, innovation and integration into global value chains. The second targets climate and energy resilience by modernising governance of the water and electricity sectors and building climate into public policy.
"Our ambition is to help absorb external shocks, whether economic, energy-related or climatic," said Abdoulaye Coulibaly, director of the bank's governance and economic reforms department. The operation also helps Morocco cope with the effects of the Middle East crisis, notably higher energy and transport costs, under the bank's energy and fertiliser crisis response framework.
Since 1978, the AfDB has mobilised nearly 15 billion euros for more than 150 projects in Morocco, the statement said. The operation is part of the "Four Cardinal Points" strategy of the bank, which is led by Mauritanian Sidi Ould Tah.
