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), proceeded to the signature of a Memorandum of Understanding aimed at consolidating and promoting cooperation relations between Morocco and BOAD, WAEMU's development financing institution. On this occasion, Mrs. FETTAH welcomed the signing of this Memorandum of Understanding which marks a major step in the cooperation relations between Morocco and BOAD, and confirms the continuous commitment of the Kingdom of Morocco to the development of the countries of the West African sub-region, in accordance with the vision of His Majesty the King, may God assist him, in the promotion of South-South cooperation. The Minister stressed, in this regard, that the Memorandum of Understanding concluded between the two parties will give more visibility to Moroccan operators wishing to explore the considerable economic potential presented by the WAEMU region, while allowing the countries of the region of Moroccan expertise and know-how in BOAD's fields of activity. 

For Mr. EKUE, "the excellent cooperation relations between our two institutions for nine years has thus been strengthened through a new chapter which opens with the signing today of a Memorandum of Understanding for the great benefit of the populations of our areas of intervention. With this in mind, the Kingdom of Morocco and BOAD will establish a framework for exchanges and will 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 the financing of micro, small and medium-sized enterprises (MSMEs) and young project leaders". 

The signing of the aforementioned Memorandum of Understanding will make it possible to offer significant business and investment opportunities for Moroccan economic operators in the West African sub-region, in particular through better access to information around the pipeline of potential projects and support for BOAD teams. It should be recalled that the signing ceremony of the aforementioned Memorandum was organized on the sidelines of the work 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.