|Approval Date||23 Nov 2011|
|Signature Date||23 Nov 2011|
|Planned Completion Date||31 Dec 2012|
|Last Disbursement Planned Date||31 Dec 2012|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
The Financial Sector Development Support Programme – Phase II (PADESFI - II) is intended to accelerate reforms in the Moroccan financial sector. It addresses the challenges which the Government intends to meet, as soon as possible with a view to consolidating and expanding the achievements of the first phase of the programme (PADESFI-I) and the gains of the four financial sector adjustment programmes (PASFI I to PASFI IV). PADESFI II should also strengthen the microfinance sector by improving the governance of associations engaging in the activity and also through the formulation of a strategic vision for the sector’s development. In addition, by focusing on improving access to financing for SMEs/VSEs, modernizing the guarantee scheme and risk management as well as strengthening the supervision of the banking, insurance and financial market sectors, PADESFI-II will contribute to the development of an enabling environment for private sector activities. The program has four main components, namely: (i) improving population’s access to financial services; (ii) improving access of businesses to financing; (iii) strengthening of the financial sector governance mechanism; and (iv) deepening the capital market.
The goal of PADESFI-II is to create the requisite conditions for sustainable economic growth. Its specific objective is to strengthen the development of the financial sector by consolidating and deepening the gains of PADESFI-I.
The programme’s end beneficiaries are the Moroccan people as a whole, who will enjoy improved living standards as a result of sustainable economic growth that will generate employment and income. The intermediate beneficiaries are: (i) the private sector and semi-public sector which, through the reforms, will have easier access to financial services that will foster their growth; (ii) households as economic agents, whose bank use rate will further improve as a result of greater coverage of the national territory by the banking networks, in addition to easier access to loans, especially for the acquisition of housing. Thus, facilitating access to credit, especially for SMEs, VSEs and households, not only in general terms but also in terms of spatial coverage, will help to generate income and create jobs, thereby encouraging more inclusive growth.
African Development Bank
DIRECTION DU TRESOR ET DES FINANCES EXTE
|Last Update||24 Oct 2020|
|32 -5||Kingdom of Morocco|