A long-time partner, Morocco will host the 2023 Annual Meetings of the World Bank (WB) and the International Monetary Fund (IMF) next year. Meanwhile, and within two years of the pandemic, Morocco has broken the record for loans approved by its institutions.
For this period of post-covid economic and social recovery, Morocco has been one of the largest beneficiaries of loans and financial aid granted by its financial institutions, on a global scale.
For example, and during the 2022 fiscal year, the end of which is coming to an end in June, 6 financings were granted by the WB. Financing of 1.83 billion dollars was approved in Morocco during the fiscal year 2022, against 1.80 billion in 2021. In sum, and between July 2020 and June 2022, the institution would have released some 3.63 billion dollars in favor of the Kingdom.
In detail, its loans aim to support Morocco in this difficult period of post-covid recovery. Thus, a loan of 500 million dollars was approved in mid-June to strengthen human capital, protect it against the risks linked to climate change, improve the health and pension system, while another loan granted last May $350 million has been granted to support the launch of the government’s Blue Economy program which aims to develop coastal areas.
Similarly, another loan of 450 million dollars, approved in December 2021, was granted by the WB with the aim of improving the performance of the public sector plus a loan of 250 million dollars for the economic development of the North-East Morocco, in particular the industrial-port complex of Nador West Med.
But not only ! A loan of 180 million dollars was validated last March for a project to improve water management in agriculture, plus 100 million dollars for the support program for the Municipality of Casablanca.