President of the World Bank Group Ajay Banga revealed part of his talks and the agenda of his discussion with the Moroccan authorities, saying that it focused specifically with Head of Government Aziz Akhannouch about “developing human capital and unemployment for Global South youth.”
From Marrakesh, on the sidelines of the annual meetings of the International Monetary Fund and the World Bank, which will continue until October 15 in the Ochre city, Banga said: “I have been speaking with your Prime Minister about this issue and its details for days,” noting that “the efforts made in this area is very important.”
The World Bank President’s speech included unequivocal praise for the Kingdom, saying: “Morocco did good work and followed purposeful policies in previous years, and I believe you can do more.”
The President of the World Bank Group, who praised the steadfastness and flexibility he saw during his visit to schools of the quake-stricken Al Haouz province, thanking Morocco for hosting the activities of the meetings and for the wonderful organization that we saw despite only a month having passed since the repercussions of an unprecedented violent earthquake.
Banga explained the World Bank’s strategy for developing and valuing human capital: “Among what I raised in my conversation with the Prime Minister of Morocco is that young people in the countries of the South, including Morocco, say that this is what we must do for them in order to create work opportunities for them by starting by ensuring education.” “The good ones, then the right skills to provide a business climate and leadership to flourish.”
“We also discussed several interesting ideas and we hope to expand on issues of higher education and innovation, as well as skills in other fields,” considering that this is the way to pave the way for “progress in human capital development in the countries of the South, which are full of great youth potential.”
World Bank, a bank of knowledge
In response to questions from the media, the President of the World Bank Group stressed that “the World Bank is not just a bank, but also a knowledge bank, so that we use the funds well, according to correct principles to create sound foundations, and then these funds are used to create growth.”
“We have great skills, and I would like to make them focus on partnerships with countries, including Morocco,” Banga said, before confirming that “his priority is to agree on important matters for the next three years.”
“We are trying to build from our international financial institution a development bank model based on the pillars of people, prosperity, land, infrastructure, as well as digital transformation,” enumerating in this regard several mechanisms to achieve this goal, such as “facilitating access to and obtaining financing, reducing the risks of climate change and digitalization.”
The President of the World Bank Group, Ajay Banga, said, “The eradication of poverty and the inclusion of women and youth is part of the World Bank’s mission. We are working for a better international bank,” considering that “the matter requires patience; “This may take about 10 years.”
During the same press conference, the global financial official announced, “The World Bank seeks to increase its lending capacity to $150 billion in the next decade,” noting that “consultations and efforts do not cease to convince the major powers or those emerging from them.”