French agency to increase funding in Morocco

Rabat, Nov 2 (IANS/MAP) French development agency AFD intends to increase its funding commitments in Morocco to reach 400 million euros per year, its Chief Executive Officer Remy Rioux has said.

"Thanks to the increase of our equity capital, we will be able to reach this year 400 million euros of new commitments per year," Rioux told Moroccan French-speaking daily L'Economiste in an interview published on Thursday.

He also noted that the renewed capacity will enable AFD to intensify its cooperation as part of a new country strategy on the enhancement and protection of human capital, social cohesion, reduction of spatial disparities and energy and ecological transitions.

AFD will continue to support Morocco on these key issues. He said attention will also be paid on gender equality and expressed the agency's willingness to support Morocco in its projects on the African continent.

Rioux also said that Morocco was the first beneficiary of AFD financing with cumulative commitments of almost 6 billion euros since the start of the agency's activities in 1992.

In Morocco, AFD is particularly active in the areas of transport, water, sanitation, agriculture, energy, education and vocational training, Rioux said.

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