|Approval Date||01 Oct 2014|
|Signature Date||15 Oct 2014|
|Planned Completion Date||31 Dec 2015|
|Last Disbursement Planned Date||31 Dec 2015|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||24030|
This project concerns the third phase of the Financial Sector Development Support Program (PADESFI-III) in Morocco. This is a sector budget support to be implemented for a 12-month period ending 31 December 2015. It is a continuation of the two previous phases of the programme implemented in 2009 and 2011, respectively, the achievements of which it intends to consolidate and deepen. The operation is also a continuation of the series of four financial sector adjustment programmes that the Bank and other multilateral donors, particularly the World Bank and European Union, have supported. The overall expected outcomes following programme implementation are: (i) improvement of the population’s access to financial services; (ii) improvement of access of enterprises, especially VSMEs, to financing; (iii) strengthening of the financial sector governance mechanism; and (iv) deepening of the capital market. Compared to the two previous programmes, PADESFI-III specifically targets greater financial inclusion of the most vulnerable population segments (youths and women) and SMEs/VSEs operating in regions outside the Casablanca – Rabat axis.
PADESFI-III’s goal is to create the required conditions for inclusive economic growth by consolidating the financial sector and fostering broader financial inclusion. Its specific objective is to strengthen financial sector development, particularly by improving access of the population and enterprises to financial services, deepening the sector and strengthening its governance.
The programme’s end beneficiaries are the Moroccan people as a whole. The programme will especially benefit the key intermediate stakeholders namely: (i) the private sector, especially SMEs/VSEs which, thanks to reforms to be implemented, will have easier access to financial services to foster their growth; and (ii) households as economic agents, particularly youths and women, 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 and other financial payment and transfer services.
African Development Bank
GOUVERNEMENT DU MAROC MINISTERE DES FINANCES DIRECTION DU
|Last Update||31 Oct 2019|