Rabat - Morocco’s Permanent Representative to the United Nations, Ambassador Omar Hilale, spotlighted the country’s ambitious structural and sectoral reforms under the leadership of King Mohammed VI.
In a keynote address at the Fourth International Conference on Financing for Development in Addis Ababa, Hilale outlined the transformative impact of Morocco’s new developmental model, which is set to guide public policies and programs through 2035.
The reforms are designed to stimulate significant changes in the country’s economic and social landscape and mobilize local financial resources more effectively.
Central to Morocco’s strategy is the launch of the Mohammed VI Investment Fund, with an impressive MAD 45 billion ($4.5 billion) allocated for strategic sector growth.
The budget includes a substantial MAD 15 billion ($1.5 billion) from the national budget. The fund aims to enhance growth through cooperation between public and private financing.
Hilale also emphasized the increased support for small and medium-sized enterprises (SMEs), noting efforts to improve access to financing and provide the tools necessary for competition, job creation, and value addition.
In addition, he highlighted Morocco’s commitment to financial inclusion and digital transformation, particularly through mobile payment platforms and online banking services.
Turning to regional cooperation, Hilale discussed Morocco’s South-South solidarity initiatives, including the Nigeria-Morocco gas pipeline and a royal initiative to facilitate Sahel countries’ access to the Atlantic Ocean.
The projects are expected to boost Africa’s economic potential and foster a new approach to development financing.
Hilale further called for a reform of the international financial system to better support Africa’s development needs.
He referenced the Marrakech Declaration, which advocates for a fairer global financial architecture that respects African sovereignty and contributes to the continent's well-being.
Hilale further stressed the importance of effective multilateralism and trust-building among nations as crucial to overcoming multi-dimensional challenges, including those related to financing, which impede sustainable development progress.