Fourth Financial Sector Support Programme (PASFI IV)

Project Summary

Approval Date 12 Dec 2002
Signature Date 17 Dec 2002
Planned Completion Date 31 Dec 2005
Last Disbursement Planned Date 31 Dec 2005
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Environmental Category 3
Commitment U.A 108,507,800.72
Status Completion

Project General Description

The Fourth Financial Sector Support Programme (PASFI IV) aims to build up the capacities of the Moroccan financial system. It consists in adjusting the institutional and regulatory framework of the financial sector with a view to strengthening the supervisory bodies’ working capacity, reorganizing public finance institutions, reinvigorating capital markets, and strengthening institutional savings. The Programme, which is in line with the continuity of previous PASFIs, and is expected to further open the economy by modernizing the regulatory framework of the financial sector and mobilizing institutional savings internally and externally, with a view to increased private investment in the productive sectors. PASFI IV actions focuses on four components, namely: (i) adjusting the institutional and regulatory framework of the financial sector, (ii) reorganizing public financial institutions, (iii) invigorating the capital market; and (iv) strengthening institutional savings.

Project Objectives

The overall Programme objectives were to strengthen medium-term competitiveness, preserve the viability of the macro-economic framework necessary for achieving higher growth, strengthen the stability of the major macro-economic and financial balances, and growth revival driven by private sector development. Consequently, PASFI’s objectives consisted in mobilizing savings to finance productive private investment, thanks to the enhanced performance of the institutions and markets of the financial system.


The final beneficiary of the program is the Moroccan population as a whole. This should benefit in particular the main intermediate beneficiaries: the private sector, particularly SMEs / VSEs and (ii) households as economic agents, especially young people and women.

Participating Organization

African Development Bank
Directorate of the Treasury and External Finance / Ministry of Finance and Privatization


IATI identifier 46002-P-MA-HA0-001
Last Update 26 Jan 2023


Contact Details

Geographic Location

Country Morocco
Coordinates Location Name
32 -6 Morocco