Rabat:The Moroccan government has signed a financing agreement with the African Development Bank Group, securing £434.4 million to accelerate the structural transformation of the Moroccan economy. This initiative aims to foster stronger, more inclusive growth that can withstand external and climate-related shocks.

According to Emirates News Agency, the agreement, signed on November 13, 2026, in Rabat by Fouzi Lekjaa, the Minister of Economy, Finance and Public Performance, and Achraf Hassan Tarsim, the African Development Bank's Country Manager for Morocco, will support the third phase of the Economic Governance and Climate Change Resilience Support Programme (PGRCC-Phase III). This phase focuses on strengthening the private sector's role in driving investment and value creation while refocusing the State on its strategic functions.

The operation aligns with the Bank Group's Four Cardinal Points and Morocco's strategic priorities to accelerate economic transformation and enhance long-term resilience. The funding will address two main components strengthening public sector capacity and enhancing the Kingdom's climate and energy resilience to accelerate its transition to a low-carbon economy.

The new phase of the programme will also consolidate reforms from previous phases and assist Morocco in tackling the impact of the Middle East crisis, particularly rising energy and transport costs.