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Rabat – The World Bank’s Board of Directors approved a substantial $350 million loan to Morocco to bolster the country’s social protection efforts.
In a press release issued on Monday, the World Bank (WB) explained that the additional financing complements the initial $400 million program granted in 2020.
According to the WB statement, the financing demonstrates the international community’s commitment to supporting Morocco’s efforts in mitigating the impacts of the COVID-19 crisis and advancing comprehensive social protection reforms.
The World Bank highlighted the progress Morocco made in implementing a comprehensive social protection reform program, adding that the initial funding played a crucial role in supporting the government’s strategy to address COVID-induced economic challenges.
Jesko Hentschel, the World Bank’s Country Director for Maghreb and Malta, emphasized that this additional financing aims to operationalize key elements of Morocco’s social protection reform.
The ultimate goal is to establish a modern social protection system that promotes inclusive growth and extends its benefits to all citizens.
Mehdi Barouni, Senior Economist and Program Manager at the World Bank, emphasized the significance of these digital advancements in facilitating a successful transition to the envisioned social protection system.
“Given the importance of these programs for household well-being and resilience, but also to guarantee the continuity of the benefits they provide, digitizing payments and modernizing the Management Information System is essential for a successful transition to the new system envisaged by the social protection reform,” he explained
The newly allocated funds will also contribute to the implementation of the non-contributory health insurance program, known as AMO-Tadamon, which targets vulnerable households.
The program seeks to play a vital role in safeguarding the health and well-being of women, children, people with disabilities, and those living in rural or remote areas.
Dalal Moosa, Senior Economist and Co-Team Leader at the World Bank, underscored the importance of utilizing existing tools to identify and target vulnerable populations efficiently.
In line with its commitment to inclusivity, the financing would also contribute to the implementation of a disability assessment system.
The system aims to facilitate the identification and improve access to services for people with disabilities throughout Morocco, benefiting approximately 2.6 million individuals, the World Bank said in the statement.
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