Morocco - Financial Sector Development Support Programme – Phase III (PADESFI III)


Project Summary

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
Sector Finance
DAC Sector Code 24030
Commitment U.A 80,951,995.47
Status Completion

Project General Description

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.

Project Objectives

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.

Beneficiaries

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.

Participating Organization

Funding
African Development Bank
Implementing
GOUVERNEMENT DU MAROC MINISTERE DES FINANCES DIRECTION DU

Information

IATI identifier 46002-P-MA-HZ0-011
Last Update 31 Oct 2019

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Contact Details

Name DIARRA Emmanuel
Email e.diarra@afdb.org

Geographic Location

Country Morocco
Coordinates Location Name
32 -6 Morocco