A Memorandum of Understanding (MoU) for an amount of one billion dollars was signed, on Saturday in Marrakech, between Morocco and the African Export-Import Bank (Afreximbank) with a view to consolidating and promoting relations of cooperation between the two parties in several areas.
Initialed by the Minister of Economy and Finance, Nadia Fettah, and the President of Afreximbank, Benedict Oramah, on the sidelines of the Annual Meetings of the World Bank Group and the International Monetary Fund, the said memorandum defines priority areas of cooperation between this institution and its Moroccan partners, particularly with regard to the financing and promotion of intra- and extra-African trade, project financing and technical assistance.
On this occasion, the minister welcomed the signing of this MoU, which marks a major step in the consolidation of cooperation relations between Morocco and Afreximbank and confirms the Kingdom’s continued commitment to the development of Africa. , in accordance with the vision of HM King Mohammed VI in terms of promoting South-South cooperation.
In a press statement following this ceremony, Ms. Fettah emphasized the importance of this agreement which will allow Morocco to strengthen its trade and investments in Africa.
For his part, Mr. Oramah indicated that this MoU aims to support the Moroccan government in its efforts to promote trade and investments in Africa and throughout the world. This agreement is part of strengthening cooperation between the two parties, with a view to increasing support for the institution in the future.
He also wished to express his sincere condolences to Morocco following the Al Haouz earthquake, saluting the resilience shown by the Kingdom in the face of this tragedy.
Afreximbank is an African financial institution created in 1993 in Abuja, Nigeria, with the main objective of facilitating, promoting and developing intra- and extra-African trade through a range of financing and guarantee products.
