Remy Rioux, CEO of the French Development Agency (AFD), declared on Saturday that the organization plans to start making direct investments in Morocco’s southern regions beginning this year. This move aligns with a pledge made earlier by French President Emmanuel Macron during his recent official trip to the country.
Representing Laayoune, Rioux highlighted that the initiative aligns with Morocco’s comprehensive sustainable development plan and signals a new abad of regional collaboration between the nations involved.
Following several rounds of discussions with various authorities, Rioux revealed this information during talks with key figures such as Governor Abdel Salam Bekrate from Laayoune-Sakia El Hamra, Regional Council Head Sidi Hamdi Ould Errachid, and Mayor Moulay Hamdi Ould Errachid. He expressed his gratitude towards these community heads for their hospitable reception and emphasized the significance of enhancing connections within the region.
While visiting Laayoune Port and the African Institute for Research in Sustainable Agriculture (ASARI), Rioux stated that AFD aims to find methods to assist with youth employment and enhance regional infrastructure via financial backing and technical knowledge. “Our purpose is to listen and collaboratively develop successful initiatives that turn local potential into tangible chances,” he remarked.
The AFD plans to explore possible collaborations with Morocco’s OCP Group aimed at decarbonizing the phosphate industry and extending these initiatives to the southern regions, anticipating investments totaling approximately 150 million euros.
Rioux characterized the Moroccan Sahara as a crucial bridge connecting Morocco with Sub-Saharan Africa. He emphasized potential avenues for financing agricultural supply chains, promoting a sustainable marine economy, and enhancing food safety measures. Additionally, he pointed out that AFD’s investments signal to French companies that the country’s southern regions present promising prospects for private-sector involvement.
Officials in Laayoune greeted the announcement with enthusiasm. Governor Bekrate highlighted instructions from royalty that transformed the area into a burgeoning center of continental economics. “With its comprehensive infrastructure, competent labor force, and the development of a new port facility, this region stands out as an ideal spot for enduring German investment,” he stated.
The Regional Council President, Sidi Hamdi Ould Errachid, highlighted the significance of drawing transformative investments, notably in the sectors of renewable energy and logistics. Additionally, he advocated for investigating trilateral collaboration involving Sub-Saharan African nations.
In the meantime, Laayoune’s mayor, Moulay Hamdi Ould Errachid, characterized his city as an emerging hub for regional economics and expressed appreciation for AFD’s backing in critical areas such as sewage systems and water facilities. He stressed that the municipal government focuses on developing these infrastructures to boost Laayoune’s attractiveness for investors and improve environmental conditions.
Morocco stands as AFD’s premier international collaborator, having received more than €7 billion in investments from the organization throughout various public and private initiatives spanning three decades. This enhanced dedication to Morocco’s southern regions underscores the strengthening strategic alliance between Paris and Rabat aimed at promoting equitable, area-specific growth.
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AFD plans to initiate direct investments in Morocco’s southern regions, enhancing collaboration between France and Morocco.
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