In New York, on the sidelines of the 81st United Nations sessions, Morocco through its Minister of Foreign Affairs, Nasser Bourita calls for greater mobilization of private capital to meet growing development financing needs, particularly in Africa.
$4.3 trillion. That is the annual funding gap for the Sustainable Development Goals. Faced with this colossal need, public resources are no longer sufficient.
Morocco and the UNDP aim to mobilize more private investment, with Africa as a priority region.
In New York, Morocco’s Minister of Foreign Affairs, Nasser Bourita, advocated for new partnerships capable of combining public resources, private capital, innovation, and expertise. The Kingdom’s stated goal is to make the private sector a true engine for development financing. To make its case, Morocco is highlighting its own experience.
“The experience of the Kingdom of Morocco shows that public-private partnerships can serve as a powerful lever for economic transformation and development. It is this experience that Morocco intends to continue sharing and placing at the service of its partners through South-South or triangular cooperation based on solidarity, development, and mutually beneficial partnerships.”
NASSER BOURITA, Minister of Foreign Affairs – Morocco
Morocco aims to raise the private sector’s contribution to nearly two-thirds of national investment by 2035.
Rabat also wishes to promote this approach across Africa, where infrastructure funding needs are estimated at between $181 billion and $221 billion annually through 2030.
This view is shared by several African countries present in New York, which are also seeking to diversify their sources of funding.
“It is a very important initiative, and I believe we are at a moment where we can rethink our approach and refocus our attention on how to establish viable financing mechanisms to support our development goals and ambitions. The Gambia is participating in this very important initiative, and we have also put in place other sustainable financing methods to support our development.”
Sering Modou Njie, Minister of Foreign Affairs – The Gambia
“Promoting PPPs requires every state to have an institutional framework that effectively lends predictability and credibility to state-led projects. It also involves mobilizing blended finance mechanisms to help advance these projects, given the limited fiscal space available to the various states.
Souleymane Diarrassouba, Minister of Planning and Development – Côte d’Ivoire
Yet beyond financing, the challenge remains transforming African projects into concrete investments.
In New York, states, international institutions, and private investors are therefore seeking to align their approaches with a single goal: transforming the continent’s development needs into projects capable of attracting capital on a sustainable basis.”
