Caisse de Dépôt et de Gestion (CDG) Développement and the French Development Agency (AFD) signed a memorandum of understanding during the recent visit to Rabat by the Agency’s Director General, Rémy Rioux .
This agreement, initialed by Omar Elyazghi, Managing Director of CDG Development and Mihoub Mezouaghi, Director of AFD’s representation in Morocco, is part of the dense partnership between CDG and AFD, two pilot institutions of the ‘IDFC (International Development Finance Club), indicate the two parties in a joint press release.
It aims to contribute to the operationalization of the New Development Model (NMD), on the one hand, through the Kingdom’s long-term low-carbon strategy and, on the other hand, via the social dimension of the NMD, specifies the same source. .
The two public development banks, AFD and the CDG Group, enjoy a privileged relationship based on historical partnerships in key sectors of a strategic nature (urban development, green finance, industrial development, etc.), the press release states.
Reinforcing the achievements between the two Groups, this memorandum of understanding aims to promote the sustainable and inclusive development model chosen by the Kingdom of Morocco in its NMD.
Two common lines of cooperation have been selected. This concerns the decarbonization of the areas of activity of MEDZ, a subsidiary of CDG Development and the development of the health system and the supply of care on the national territory.
Beyond the protocol, specific agreements will subsequently be signed between CDG Development and AFD to specify the concrete methods for carrying out joint operations.
“CDG Development has initiated measures to mitigate the impacts induced by the activity of its economic activity parks, particularly in terms of the design and development of new sustainable projects, energy efficiency in buildings and waste water management. and waste »said Omar Elyazghi, quoted in the press release.
And to support: “We are delighted to see AFD ready to support these sustainable investment efforts. Moreover, within the framework of the 2025 Health Plan, CDG Development and AFD are able to implement joint operations aimed at developing the hospital supply at provincial and regional levels”.
For his part, Mihoub Mezouaghi affirmed that “Morocco is AFD’s leading partner, and our commitments from 2017 to 2021 reached 2.2 billion euros, 85% of which is for climate co-benefit”. “We are ready to support efforts to decarbonize the Moroccan economy, through concrete projects, and especially with CDG Development. We will also support the improvement of the care offer in the territories, essential elements of their resilience, for the benefit of the populations “he added.
A 100% subsidiary of Caisse de Dépôt et de Gestion, CDG Développement was created in 2004 to embody the group’s strategy in territorial development activities throughout Morocco.
CDG Développement offers innovative development tools and high-performance products and services that generate progress for the community in all its areas of intervention, in order to meet its vocation as a long-term operator and investor, reconciling performance financial and collective utility and placing the concerns of the country at the center of its action.
For its part, the AFD Group is committed, in Morocco, to promoting inclusive and sustainable growth. Three main objectives are thus pursued. The aim is to enhance and protect human capital, to contribute to the attractiveness of the territory, to social cohesion and to the reduction of spatial disparities, to support energy and ecological transitions, and adaptation to climate change.