Morocco and the African Development Bank (AfDB) signed, on Tuesday in Rabat, a loan agreement for the financing of the results-based program to improve access to employment, for an amount of 96 , 6 million US dollars (about 923 million dirhams).
Initialed by the Minister of Economy and Finance, Mohamed Benchaaboun, and the resident representative of the African Development Bank (ADB) in Morocco, Leila Farah Mokaddem, in the presence of the Minister of Labor and Professional Integration, Mohamed Yatim , this agreement aims to contribute to improving the living conditions of the population through inclusive access to employment and skills development.
The program, which supports national employment and vocational training strategies as well as the national employment promotion plan, aims at facilitating access to employment for young people and women and to improve the quality of employment in the regions.
Speaking on this occasion, Benchaaboun said that this agreement that relates to employment is essentially the creation of about 100,000 jobs per year, in addition to the support of 111,000 beneficiaries of skills training, 50% of them girls .
This program, which runs from 2019 to 2121, takes a particular form, he said, noting that the agreement signed with the ADB is for the first time on quantified targets for drawing results from promote the employability of young people and women in Morocco.
Recalling that this agreement contributes to the implementation of the guidelines of HM King Mohammed VI on employment and vocational training through the provision of financial resources, Benchaaboun welcomed the "dense" relationship between Morocco and the AfDB and the invaluable and constant support that the institution provides Morocco for the implementation of structural reforms.
For her part, the resident representative of the ADB in Morocco said that this program, which is based on the use of a results-based and performance-based financing instrument, is a first in a middle-income country and reflects ADB's level of confidence and confidence in the use of its funds under this agreement.
In this sense, she noted that Morocco, "a long-term partner" of the AfDB is its first client with a portfolio of about 3 billion euros, she said, praising the excellence of dialogue between the continental institution and Morocco, which is positioning itself on the path of emergence.
For its part, the Minister of Employment and Professional Integration has highlighted the level and quality of cooperation relations between Morocco and the ADB, welcoming the interest of the ADB in financing structuring projects in Morocco particularly in the field of employment and vocational training which is of primary interest.
This program coincides with the government's priorities and supports the National Employment Promotion Plan, which aims to facilitate access to employment to improve human capital and strengthen its capabilities, he added. .