The World Bank (WB) has committed to continue strengthening its partnership with Morocco, underlining its determination to support the country’s development objectives.
The WB noted this week the growing partnership between the two parties, one year after the 2023 Annual Meetings in Marrakech.
“One year after the 2023 Annual Meetings of the World Bank Group and the IMF in Marrakech, our partnership with Morocco has deepened, reinforcing the country’s development objectives and consolidating its role as a regional hub for connectivity and growth,” the WB said in a statement.
It also highlighted the Bank’s support for Morocco’s initiatives, including water scarcity, noting the urgent need for immediate solutions to address similar challenges.
The report cites some of the projects aimed at strengthening the Moroccan economy, including the new development model, with its ambitious reforms in social protection, healthcare, education and women’s empowerment.
The report says that this development programme has laid the foundations for an inclusive society.
“With more than 65 years of partnership, the World Bank’s broad programme in Morocco – focused on creating jobs through private sector innovation, improving human capital and promoting inclusive and resilient development – supports our partners’ efforts to accelerate sustainable growth,” the statement said.
With a total investment of over $8 billion, the bank is financing 27 projects in Morocco.
This cooperation covers several landmark initiatives, including the historic Noor project, Africa’s largest solar power plant.
“The strong partnership between Morocco and the World Bank Group is based on trust, open dialogue and shared commitments, and will continue to guide our efforts to improve the living conditions of the Moroccan people,” the World Bank added.
RT/Sf/te/fss/gik/APA