News: Signing of a memorandum of understanding between the African Development Bank and Morocco for the hosting of the Africa Investment Forum 2023 in Marrakech
In close collaboration, the African Development Bank (AfDB) and Morocco recently signed a memorandum of understanding for the organization of the 2023 edition of the Africa Investment Forum (AIF) in Marrakech. The Minister of Economy and Finance of Morocco, Nadia Fettah Alaoui, and the Secretary General of the AfDB Group, Vincent Nmehielle, supervised this signing in the presence of the Senior Director of the AIF, Chinelo Anohu.
Morocco, a loyal partner of the AfDB, has already hosted important events organized by the Bank, such as the Annual Meetings in 2013 and the replenishment meeting of the African Development Fund in 2022. This new collaboration for the AIF demonstrates the common desire to promote economic development and investment in Africa.
Morocco, a model country in terms of partnership and stability, plays a central role in revitalizing the AIF. Since his accession to the throne 24 years ago, HM King Mohammed VI has driven reforms and launched flagship projects which have propelled the country to the rank of one of the most advanced and attractive on the continent.
The Africa Investment Forum, created by the AfDB and seven other founding partners, is a major event in the field of investment in Africa. It aims to catalyze transactions and fill investment gaps on the continent. The Market Days, the highlight of the AIF, bring together transaction promoters, investors and government leaders to present projects ready to be realized.
The previous edition of the AIF, held in Egypt, showcased renewable energy and sustainable development projects worth $1.5 billion to investors. Since its inception in 2018, the AIF has attracted more than $142 billion in investment interest from more than 40 countries.
The signing of this memorandum of understanding marks the official launch of the AIF in Marrakech. By November, the Moroccan city will be at the center of international attention, thus highlighting the importance of this 2023 edition of the AIF for the economic development of Africa.
In conclusion, the collaboration between the African Development Bank and Morocco for the Africa Investment Forum 2023 in Marrakech represents a significant step in promoting investment in Africa. This initiative demonstrates the common commitment to the economic development of the continent and strengthens Morocco’s position as a key partner for the AfDB. The signing of this agreement opens new economic opportunities for the African continent and attracts the attention of investors around the world.