Casablanca – The African Development Bank Group has announced its financing of a series of pivotal initiatives across North Africa throughout 2023, marking a substantial investment totaling an estimated two billion US dollars across various strategic sectors.

The Group’s endeavor, disclosed in a recent statement, underscores its commitment to bolstering regional development and resilience amid multifaceted challenges. Mohamed El Azizi, Director-General of the African Development Bank for North Africa, emphasized the exceptional nature of 2023 amidst uncertainty and crises, highlighting the transformative impact of the Bank’s operations in enhancing communal well-being across the region.

Among the landmark initiatives, the African Development Bank has greenlit financing exceeding 273 million US dollars under the “Desert to Power” initiative. This funding is allocated to implement a vital electricity transmission project, encompassing a 225-kilovolt effort to connect Mauritania with Mali. The project’s scope includes the establishment of solar power stations and the construction of a high-voltage line spanning 1,373 kilometers, enabling a transmission capacity of 600 megawatts between the two nations. This strategic endeavor aims to expand solar energy production and ensure universal electricity access, fostering socio-economic development.

In addition to the cross-border venture benefiting both Mauritania and Mali, the African Development Bank Group secured approvals for other crucial projects. These include allocations from the African Development Fund and the Group’s Concessional Window, amounting to 23.7 million US dollars, dedicated to enhancing development initiatives in Mauritania.

Meanwhile, Morocco stands to benefit significantly from the African Development Bank’s investments, with a financing injection of 270 million euros (approximately 286.2 million dollars) allocated for two key operations. These projects focus on broadening social coverage and developing new healthcare infrastructure, aligning with the Kingdom’s structured programs aimed at fostering inclusive growth and resilience.

The cumulative financial support extended by the African Development Bank for Morocco during 2023 nears the milestone of 800 million dollars, underlining the Bank’s steadfast commitment to advancing Morocco’s socio-economic landscape.

Egypt, too, received substantial support from the African Development Bank, with approvals exceeding 677 million dollars during the year. A notable portion of these funds, approximately 134 million dollars, has been earmarked to finance pivotal public reforms aimed at unlocking the private sector’s potential and accelerating economic diversification efforts.

The impact of these initiatives extends to Tunisia, where approvals totaling nearly 178 million dollars aim to valorize treated wastewater for agricultural use, bolstering water management practices and reducing reliance on conventional energy sources.

Lastly, Libya benefited from a series of technical assistance grants aimed at strengthening food security strategies and enhancing the resilience of the food supply chain amidst external shocks.

The multinational operations undertaken by the African Development Bank Group in North Africa, which amounted to 450 million dollars, underscore its pivotal role in driving sustainable development and fostering resilience across the region.