|Approval Date||14 Jul 2017|
|Signature Date||14 Jul 2017|
|Planned Completion Date||31 Dec 2018|
|Last Disbursement Planned Date||31 Dec 2018|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The Industrialization Acceleration Support Program in Morocco - Phase I (PAAIM I) is a budget support program on the improvement of Morocco’s competitiveness of its industrial base and on the financing of industrial economic activities. The PAAIM I encourages the Government to accelerate the structural reforms needed to diversify the economy through industrialization, thus improving the quality of life of Moroccan citizens . The PAAIM provides a response to constraints on the competitiveness of the Moroccan economy, particularly in relation to the business climate and access to financing, as highlighted in the 2015 Growth Diagnosis, and more generally at the continent level within the framework document of the G20 Compact with Africa initiative. The acceleration of industrialization in Morocco will create sustainable jobs in a sector with very high added value. With a focus on industrialization, PAAIM I will bring skills from the labor force upward, including young and female workers, which will positively impact their standard of living. This program will also help the Government to meet part of the country’s financing needs for the 2017 budget year. The PAAIM I is an integrated intervention on the structural aspects related to competitiveness and the development aspect of SMES/SMIS through financing, which are complementary and necessary to industrial ecosystems. Consequently, it is divided in two components, namely: (i) support for the competitiveness of the industrial base; and (ii) support for the financing of industrial economic activities.
The main objective of the program is to contribute to the creation of favorable conditions for the acceleration of industrialization for sustainable economic growth. The specific objectives are: (i) to improve the competitiveness of the industrial base; and ii) support the financing of industrial economic activities.
The direct beneficiaries of the program are the Moroccan State, through the MEF and the MIICEN, as the amount of the program will be added to the budget of the State. The private sector, especially the industrial private sector, will also benefit directly from this program. SMEs, especially those run by women, are also indirect beneficiaries of PAAIM I, since the measures identified should facilitate business and provide easier and more diversified access to financing in the industrial sector. The indirect beneficiaries are Moroccan citizens, whom will benefit from the stabilization of the country’s macroeconomic situation, and the increase in economic growth, through the creation of sustainable jobs in the industrial sector in particular.
African Development Bank
DIRECTION DU BUDGET MINISTERE DES FINANCES ET DE LA PRIVATISION
|Last Update||04 Dec 2022|