Nairobi — The Board of Directors of the African Development Bank (AfDB) Group has approved Morocco's Country Strategy Paper (CSP) for the 2024-2029 period.

This new roadmap will serve the priorities of the Kingdom's New Development Model (NMD) for 2035 and will help strengthen the competitiveness and resilience of the Moroccan economy, says the AfDB in a press release issued on the occasion of its Annual Meetings 2024, taking place from May 27 to 31 in Nairobi.

It also aims to support a strong and sustainable growth and consolidate the economic and social inclusion dynamic, adds the same source.

"This new strategy sets the course, objectives and pace of our investments over the next five years in the Kingdom, our leading partner on the continent with over 12 billion euros mobilized in strategic sectors," explained Achraf Tarsim, AfDB Country Manager for Morocco, quoted in the press release.

According to the AfDB official, the Kingdom, a country that proves that with vision, capacity and resources, emergence can become a reality, is a source of inspiration, noting that "with this new strategy, our ambition is to move to the next level to strengthen the excellent partnership that has united us for almost 60 years".

This roadmap defines two priorities, namely to strengthen inclusive growth through skills development, employability and entrepreneurship, and to consolidate the economy's resilience to exogenous shocks through the deployment of sustainable infrastructure.

According to the AfDB, this new CSP innovates in particular through its "water-energy" nexus approach, which will enable the development of more integrated projects to mitigate water stress and support strong, inclusive growth.

The result of wide-ranging consultations with public and private stakeholders, the new country strategy draws on the lessons learned from the previous CSP, which contributed to Morocco's significant progress in socio-economic development.