Rabat, Morocco, 18 October 2023 – The Islamic Development Bank (IsDB) and the Government of the Kingdom of Morocco have signed three strategic agreements, in the capital city of Rabat.

The documents included two financing agreements for aquaculture development and enhancing economic resilience, in addition to a memorandum of understanding for consolidating the partnership strategy between IsDB and the Government of Morocco.

Moroccan Minister of Economy and Finance and IsDB Governor for the country at the Islamic Development Bank, Her Excellency Mrs. Nadia Fettah, and IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, signed the agreements on behalf of each party.

Speaking after the signing ceremony, H.E. Dr. Muhammad Al Jasser expressed appreciation to Her Excellency, Morocco’s Minister of Finance and Economy for her continued support for the IsDB initiatives and keenness to enhance cooperation with the IsDB Group.

He then stated that the partnership between the Bank and the Kingdom of Morocco is consistent with the national priorities of the country. The agreements   focused on spearheading environment-friendly infrastructure projects and enhancing human capital; promoting economic resilience for companies enabling them to fend off crises and other challenges.

The IsDB President also underlined how the agreements envisage to facilitate developing participatory finance, integrating women and youth and managing climate change challenges in addition to capacity building based on South-South Cooperation.

Dr. Al Jasser referred to Morocco’s tremendous potential for spearheading a blue economy and excelling in developing aquaculture projects that serve enhanced markets and social inclusion.