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Signature of a Memorandum of Understanding on cooperation between the Ministry of Economy and Finance of the Kingdom of Morocco and the West African Development Bank (BOAD)

Marrakech, May 12, 2022 – Mrs Nadia FETTAH, Minister of Economy and Finance (MEF) of the Kingdom of Morocco, and Mr Serge EKUE, President of the West African Development Bank (BOAD), have signed a Memorandum of Understanding aimed at consolidating and promoting cooperative relations between Morocco and BOAD, the WAEMU’s development financing institution.

On this occasion, Mrs. FETTAH welcomed the signing of this Memorandum of Understanding, which marks a major milestone in cooperation relations between Morocco and the BOAD, and confirms the Kingdom of Morocco’s ongoing commitment to the development of countries in the West African sub-region, in line with the vision of His Majesty the King, may God assist Him, to promote South-South cooperation.

In this respect, the Minister emphasized 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 UEMOA region, while enabling the countries of the region to benefit from Moroccan expertise and know-how in the BOAD’s areas of activity.

For Mr EKUE, ” The excellence of the cooperative relations between our two institutions over the last nine years has been strengthened by the opening of a new chapter with today’s signing of a Memorandum of Understanding, to the great benefit of the populations in our areas of intervention. To this end, the Kingdom of Morocco and BOAD will set up a framework for exchanges and periodically define their work program in the fields of infrastructure, energy, agriculture and food security, housing, including social housing and tourism, health and education. as well as financing for micro, small and medium-sized enterprises (MSMEs) and young project leaders”.

The signing of the aforementioned Memorandum of Understanding will open up significant business and investment opportunities for Moroccan economic operators in the West African sub-region, notably through improved access to information on the pipeline of potential projects and support from BOAD teams.

The signing ceremony took place on the sidelines of the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD), held in Marrakech from May 10 to 12, 2022.

For further information :

Ministry of Economy and Finance (Morocco)

Treasury and External Finance Department

Email : h.talby@tresor.finances.gov.ma


West African Development Bank

Communication and Public Relations Department

Email : boadsiege@boad.org