The West African Development Bank (BOAD) signed this Thursday, May 12, 2022, a Memorandum of Understanding of cooperation with the Ministry of Economy and Finance of the Kingdom of Morocco. This partnership will provide significant business and investment opportunities for Moroccan economic operators in the West African sub-region.
The aforementioned Memorandum of Understanding was signed on the sidelines of the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD), held in Marrakesh from 10 to 12 May 2022. A new commitment that will provide significant business and investment opportunities for Moroccan economic operators in the West African subregion, notably through better access to information around the pipeline, potential projects and support for BOAD teams. On this occasion, Nadia FETTAH, Minister of Economy and Finance (MEF) of the Kingdom of Morocco confirms the Kingdom of Morocco’s continued commitment to the development of the countries of the West African subregion, in accordance with the country’s vision, in terms of promoting South-South cooperation. The Minister stressed that the Memorandum of Understanding concluded between the two parties will give greater visibility to Moroccan operators wishing to explore the considerable economic potential of the WAEMU region, while providing the countries of the region with Moroccan expertise and know-how in BOAD’s fields of activity. On the side of BOAD, WAEMU’s development finance institution, President Serge EKUE believes that the excellent cooperation relationship between the two institutions over the past nine years is thus being strengthened through a new chapter. To this end, the Kingdom of Morocco and BOAD will establish a framework for exchanges and periodically define their work programme in the areas of infrastructure, energy, agriculture and food security, housing, including social housing and tourism, health and education, and the financing of micro, small and medium-sized enterprises (MSMEs) and young project leaders.