World Bank, Morocco, and AFD Strengthen Collaboration on Development Co-Financing
– The World Bank Group, in partnership with the Moroccan Ministry of Economy and Finance and AFD Group, convened a high-level forum today – “The Power of Co-Financing” – aimed at bolstering collaborative efforts in development financing.
The forum underscores a growing recognition that the scale of global development needs far exceeds the capacity of any single institution to address alone. By pooling resources and jointly funding projects, development partners can mobilize greater capital, support more ambitious and complex investments, and accelerate progress towards poverty reduction and shared prosperity, according to a joint statement.
Initiatives like Mission 300 and AgriConnect serve as examples of how shared platforms can facilitate collaboration and unlock financing at scale. These platforms aim to streamline processes and bring partners together to address critical development challenges.
Morocco has emerged as a leader in co-financing efforts, demonstrating a strong track record of effective partnership. Over the past decade (fiscal years 2016-2026 to date), five World Bank Group-supported projects in Morocco have benefited from co-financing, mobilizing more than $2 billion. This collaborative approach has been instrumental in sectors including urban development, agriculture, and transport, and is now expanding into crucial areas like health, energy, and digital development.
“Morocco’s experience shows that co-financing is not just about pooling resources – We see about delivering larger, faster and more transformative results,” stated Nadia Fettah, Morocco’s Minister of Economy and Finance. “When development partners pool their efforts and align behind country priorities, we can mobilize more resources – including private capital – reduce aid fragmentation and support larger, transformative investments. Morocco is an excellent example of what is possible when we truly work together and support investments that create jobs and more opportunities.”
Anshula Kant, Managing Director and World Bank Group Chief Financial Officer, echoed this sentiment, emphasizing the importance of alignment and collaboration. “When development partners pool their efforts and align behind country priorities, we can mobilize more resources – including private capital – reduce aid fragmentation and support larger, transformative investments,” Kant said. “Morocco is an excellent example of what is possible when we truly work together and support investments that create jobs and more opportunities.”
Rémy Rioux, CEO of the Agence Française de Développement (AFD) Group, highlighted the increasing necessity of co-financing in a context of constrained resources. “At a time when development needs are growing faster than available resources, co-financing is essential,” Rioux stated. “I am pleased to participate in this forum in Morocco, which reflects our shared ambition to streamline procedures and leverage our respective added value. By combining our financing, expertise, and operational experience, we can support more robust projects and achieve greater efficiency for the benefit of partner countries.”
Discussions at the forum focused on maximizing available resources and accelerating project delivery through co-financing. Participants also explored the role of the private sector in increasing financing and sharing risks. The event underscored a collective commitment to translating collaboration into concrete action, with partners recognizing that working together allows them to achieve more and move faster towards sustainable development goals.
The forum’s organizers emphasized that co-financing is evolving from a strategic tool to a fundamental requirement for delivering effective, aligned, and impactful development initiatives in a world facing multiple crises and tightening budgets.
