The US International Development Finance Corporation (DFC) is planning $5 billion investments in Morocco and across the region through the funding of several projects seeking to strengthen Morocco’s role as an economic hub for the African continent.
This important financial support has been announced by DFC CEO and Prosper Africa Executive Chairman Adam Boehler during the visit paid on Tuesday Dec.22 to Rabat by high level US-Israeli delegation led by White House Senior Advisor Jared Kushner and Israel’s National Security Adviser Meir Ben-Shabbat.
During this historic visit, Mr. Boehler announced the opening of a Prosper Africa office to be based in Morocco.
Through the Prosper Africa initiative, the U.S. Government will inject $1 billion in new two-way trade and investment deals between the US and Morocco, as well as countries across North Africa, over the next four years.
DFC also signed a memorandum of understanding (MOU) with Moroccan Government, pledging to invest $3 billion over the next four years for projects in Morocco and in co-investments with Moroccan partners for projects in Sub-Saharan Africa.
The US Agency for International Development’s (USAID) is also planning to designate Morocco as the North Africa regional hub for its new continent-wide Prosper Africa trade and investment program.
DFC will also invest $1 billion in projects aimed at advancing women’s economic empowerment in the Middle East and North Africa.
“Morocco’s leadership on the continent combined with its vibrant and growing economy make the country an ideal base for Prosper Africa as well as create exciting opportunities for DFC investment,” said Boehler.
“We deeply value our strong relationship with Morocco and we look forward to deepening this partnership”, underlined the DFC Chief.
DFC’s projects planned in Morocco will support development and economic growth in the North African Kingdom, focusing on the sectors of energy, agriculture, healthcare…
DFC is America’s development bank. DFC partners with the private sector to finance projects and solutions to the challenges facing developing countries.