Sidi Ifni - According to the Ministry of Economy and Finance, the news spread by the media about the World Bank’s grant of 4 billion dollars to the Moroccan government is “unfounded,” MAP reported on Friday.
Sidi Ifni – According to the Ministry of Economy and Finance, the news spread by the media about the World Bank’s grant of 4 billion dollars to the Moroccan government is “unfounded,” MAP reported on Friday.
Commenting on the recently published news, the Ministry stressed that the agreement signed between Morocco and the World Bank does not reflect the framework of such grants.
The nature of the ongoing financial cooperation between Morocco and the World Bank, the same source added, covers a period of four years and necessitates a consensus from the beneficiary country.
Also, the strategic partnership between the World Bank and the Moroccan government aims at reforming the economic and social development of Morocco.
As regards the 4 billion dollars granted, the Ministry explained that it is related to the next 2014-2017 Strategic Partnership Framework.
The budget is reserved to finance investment and development projects and its ratification is in the hands of the Administrative Council of the Bank, the Ministry added.
The Strategic Partnership Framework, to end in 2013, has been allotted a budget of approximately 2.76 billion dollars to carry out projects in all sectors within the strategic priorities of the government.
It is worth noting that Morocco and the World Bank have always worked towards strengthening their cooperation ties.
