AFD grants Morocco a loan of 50 million euros
17 September 2014
Read by 1797 persons
50 million euros to finance the Employment and Skills Development program. This is the latest initiative taken by the AFD (French Development Agency) in Morocco.
The AFD has just granted a loan of 50 million euros (approximately 600 million DH) during a ceremony held at the Ministry of Economy and Finance in Rabat on Wednesday, September 9. The agreement for this mechanism, co-financed by the AFD, the World Bank and the African Development Bank (AfDB), was signed, on the Moroccan side, by Mohammed Boussaid, Minister of Economy and Finance, and on the French side by Anne Paugam, Director General of the AFD. The objective: to improve the adequacy of skills produced by the vocational training system to the needs of the labor market and the efficiency of intermediation services, including active labor market policies.
It should be specified that the AFD will also finance, through a grant of 500,000 euros (approximately 6 million DH), the process of deploying technical assistance that will strengthen the means implemented by the Kingdom in terms of employability, professional integration of vocational training graduates, widening the public benefiting from public intermediation services in the labor market and efficiency of active employment policy measures. "This loan aims to reduce unemployment within the framework of the Employment and Skills Development program, through the improvement of vocational training, employability and intermediation," the Minister of Economy and Finance specified. For her part, the Director General of the AFD said that the organization she heads will contribute to this program to boost the improvement of training and the adequacy between the training offer and the current needs of the labor market. As for the Minister of Employment and Social Affairs, Abdessalam Saddiki, he stressed that "this loan is part of the national employment strategy aimed at reducing the unemployment rate of young graduates. The purpose of the Employment and Skills Development program is to provide financial and technical support for the structuring and implementation of the government's policy to improve the equity and quality of services provided to Moroccans by the public employment service."
Lematin.ma
Published September 10, 2104.
Posted online September 17, 2014.
The AFD has just granted a loan of 50 million euros (approximately 600 million DH) during a ceremony held at the Ministry of Economy and Finance in Rabat on Wednesday, September 9. The agreement for this mechanism, co-financed by the AFD, the World Bank and the African Development Bank (AfDB), was signed, on the Moroccan side, by Mohammed Boussaid, Minister of Economy and Finance, and on the French side by Anne Paugam, Director General of the AFD. The objective: to improve the adequacy of skills produced by the vocational training system to the needs of the labor market and the efficiency of intermediation services, including active labor market policies.
It should be specified that the AFD will also finance, through a grant of 500,000 euros (approximately 6 million DH), the process of deploying technical assistance that will strengthen the means implemented by the Kingdom in terms of employability, professional integration of vocational training graduates, widening the public benefiting from public intermediation services in the labor market and efficiency of active employment policy measures. "This loan aims to reduce unemployment within the framework of the Employment and Skills Development program, through the improvement of vocational training, employability and intermediation," the Minister of Economy and Finance specified. For her part, the Director General of the AFD said that the organization she heads will contribute to this program to boost the improvement of training and the adequacy between the training offer and the current needs of the labor market. As for the Minister of Employment and Social Affairs, Abdessalam Saddiki, he stressed that "this loan is part of the national employment strategy aimed at reducing the unemployment rate of young graduates. The purpose of the Employment and Skills Development program is to provide financial and technical support for the structuring and implementation of the government's policy to improve the equity and quality of services provided to Moroccans by the public employment service."
Lematin.ma
Published September 10, 2104.
Posted online September 17, 2014.
