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World Bank: $1.8 Bln in Commitments to Morocco

The commitments of the World Bank (WB) in Morocco have reached a record level estimated at some 1.8 billion dollars, said Monday in Rabat, Minister of Economy and Finance, Nadia Fettah.

Speaking at a meeting held with Director General of Operations at the World Bank, Axel Van Trotsenburg, and Vice President for the MENA region at the World Bank, Ferid Belhaj, the Minister said that the excellent cooperation with the World Bank covers several areas aimed at promoting economic growth in the country.

In addition, Fettah highlighted the major reform projects underway by the Kingdom, including those launched by Morocco to accelerate economic and human development, private sector development and climate transition.

In this context, she stressed the importance of the constant financial and technical support of the WB to the development efforts of Morocco, reflected by the quality of the reform and investment programs backed by this institution.

Also, the Minister reaffirmed her commitment and strong will to successfully organize the Annual Meetings of the World Bank Group and the International Monetary Fund (IMF), scheduled to take place in Marrakech in October 2023.

For their part, the two WB officials, on a working visit to Morocco from 19 to 22 February 2023, commended the quality and relevance of cooperation projects between the World Bank Group and Morocco.

They also emphasized the Bank’s readiness to continue and strengthen its support to Morocco’s economic and social development efforts, and to commit to the successful organization of the 2023 Annual Meetings.

In this regard, they indicated that preparations for the annual meetings are going very well, noting that this event of great importance would also be an opportunity for Morocco to represent Africa, which constitutes almost half of the Bank’s global commitment.

 

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