The French Development Agency sets course for the southern provinces

A few weeks after President Macron’s visit, the French Development Agency (AFD), the financial arm of French diplomacy, announced an investment plan in the southern regions of Morocco.

«The AFD group will now invest in the Sahara, a link between Morocco and its neighboring countries. I will soon go to Laâyoune and Dakhla to meet the local populations,” declared the director of the AFD, Rémy Rioux, quoted by the magazine Challenge.

This decision is part of what Rioux described as an approach “Pan-African » of AFD and Morocco, aiming to strengthen ties on the continent. He also specified that the expansion of the AFD in the Sahara demonstrates the institution’s commitment to supporting Morocco as a regional leader in Africa, through economic and environmental initiatives.

Also cited by Challengeeconomist Adnane Benchekroune affirmed that this change of direction was predictable. “Since the visit of the French president, French institutions have followed this guideline. This positioning of AFD is very positive for the region. We hope that the Spanish and American missions will follow suit“, said the expert.

AFD’s main partner on a global scale, with investments exceeding 7 billion euros over the last three decades, Morocco benefits from a partnership covering various sectors, such as sustainable agriculture, agricultural projects. blue economy and port cooperation along the Atlantic axis.

«AFD is now supporting the Kingdom in its transition towards a more inclusive and low-carbon development model. Between 2017 and 2021, it exceeded its objectives, reaching 2.2 billion euros in commitments, an increase of 74% compared to the previous period (2012-2016).),” we read. Morocco thus remains AFD’s leading partner among the 120 countries of intervention.

In addition, the AFD group deploys a wide range of financial instruments, partnerships and support, including its subsidiaries Proparco, dedicated to financing the private sector, and Expertise France, responsible for technical support.

Between 2017 and 2021, 55% of AFD activity in Morocco took the form of loans to the Kingdom (1.2 billion euros) and 41% of loans to public companies (900 million euros). Since 2010, more than 150 projects have been financed by the AFD group in areas such as access to water, sanitation, energy, social sectors, agriculture and biodiversity, transport, social and solidarity economy, and the promotion of gender equality.