The World Bank has approved financing for a new strategic partnership framework with Morocco, with a commitment of $15 billion.
The World Bank Group presented its new Strategic Partnership Framework (SPF) with Morocco for the period 2026-2035 in Rabat on Thursday.
This program, with indicative commitments of $15 billion, marks a refocusing of cooperation toward private sector development, productivity improvements, and job creation.
Indeed, after two decades of support for infrastructure and reforms, the World Bank Group believes that Morocco is entering a new phase of development, more focused on productivity, the private sector, and job creation.
The new framework opens a new phase in the relationship between Morocco and the Bretton Woods institution, following two decades largely devoted to financing infrastructure, institutional reforms, and public investments.
According to World Bank officials, the kingdom now has a solid economic foundation, but must transform these gains into growth driven more by innovation, competitiveness, and businesses.
“A different growth model is needed to take over. It must be more private sector-driven, based more on productivity than on the volume of investment,” said Ahmadou Moustapha Ndiaye, World Bank Division Director for the Maghreb and Malta, during the program’s presentation.
He believes the challenge now is to better leverage existing investments and strengthen the integration of Moroccan companies into value chains.
The new partnership is based in particular on the findings of two reports published in May by the World Bank and the International Finance Corporation (IFC), which note that Morocco’s high level of public investment has not yet translated into sufficient productivity gains or job creation to meet expectations.
The two institutions also identify youth unemployment, low female labour force participation, and the still limited size of the private sector as obstacles to growth potential.
The CPF (Strategic Planning Framework) is structured around three priorities: strengthening business competitiveness, fostering more resilient and inclusive territories, and developing human capital.
Employment is the overarching objective of this strategy, developed following consultations with Moroccan authorities, the private sector, and civil society.
The World Bank Group also announced that the World Bank, the IFC, and the Multilateral Investment Guarantee Agency (MIGA) will now operate within a joint approach designed to mobilise public financing, private investment, and guarantees.
The framework will be reviewed annually through an action plan to adapt interventions to the priorities of the Moroccan government and evolving economic conditions.
The IFC, for its part, indicated that it has committed $2.7 billion to Morocco over the past two years. His regional representative for the Maghreb, David Tinel, considered that accelerating private investment was an essential condition to support growth and promote job creation.
MK/AK/Sf/fss/as/APA