Morocco-EBRD: Prospects for Financial Cooperation at Center of Talks Between Benchaâboun and Renaud-Basso

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The prospects for the development of financial and technical cooperation between Morocco and the European Bank for Reconstruction and Development (EBRD) were at the center of discussions, on Monday by videoconference, between Minister of Economy, Finance and Administration Reform Mohamed Benchaâboun, and President of the Bank Odile Renaud-Basso.

“During this meeting, Benchaâboun and Renaud-Basso welcomed the quality of relations between Morocco and the EBRD and discussed subjects of common interest including the prospects for the development of financial and technical cooperation as well as institutional relations between the two partners,” said a statement from the Treasury and External Finance Department, under the said ministry.

The minister, in particular, recalled the main priorities of Morocco in the context of the management of the current health crisis, as well as the recently initiated reforms relating to the public sector, following the High Royal Guidelines, the same source said.

In this regard, he invited the EBRD to continue and to further strengthen its support for financing the private and public sectors in Morocco, notably within the framework of the post-covid recovery plan.

Benchaâboun also welcomed the decision of the EBRD Board of Governors to organize its 31st Annual Meeting, scheduled in May 2022, in Marrakesh, Morocco.

This meeting inaugurated the first official visit to Morocco of Renaud-Basso as new President of the EBRD. During this “virtual visit”, Renaud-Basso will also meet with the Head of Government and other government officials, as well as with representatives of the national private sector.

Morocco, a founding member of the EBRD since 1991, was granted the status of “beneficiary country” of EBRD activities in 2013. At the end of 2020, the total amount of the Bank’s portfolio in Morocco amounted to nearly 2.9 billion euros.

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