Rabat - The World Bank (WB) renewed, during its board of directors' meeting on Tuesday, its strategic partnership framework (CPS) with Morocco, under which it will raise its financial support to 4 bn US dollars over 2014-2017.
Rabat – The World Bank (WB) renewed, during its board of directors’ meeting on Tuesday, its strategic partnership framework (CPS) with Morocco, under which it will raise its financial support to 4 bn US dollars over 2014-2017.
“I am glad to inform you that the WB board of directors approved the new CPS with Morocco which is will increase funding to 1 billion dollars yearly, that is 4 bn dollars over the period of 2014-2017,” World Bank Country Director for the Maghreb Simon Gray told MAP.
The CPS includes three pillars namely the promotion of an inclusive, competitive growth, of a green and resilient future and of governance and institutions to offer better services to citizens, Gray added.
It will also touch on gender mainstreaming, youth, free speech and participation, and sustainable human development, he said.
The new strategy meets the country’s development priorities and is in line with the WB’s goals in relation with slashing poverty and sharing prosperity, Gray said in a statement by the financial body.
The World Bank’s board of directors also approved two new projects for Morocco which seek to support the financial sector and promote access to water in rural zones.
Worth 300 million dollars, the loan to back development policies for the financial market is the first of a series of two operations.
It is meant to continue the measures taken to develop the market of capitals as well as to reform the Moroccan pension fund.