The African Development Bank’s (AfDB) board of directors approved a budget of €149 Million for the implementation of Morocco’s universal social security coverage.
In a press release on Thursday, the AfDB stressed that the project is part of strengthening the foundation of Morocco’s social security reforms, benefiting non-salaried workers, auto-entrepreneurs, as well as micro, small, and medium-sized enterprises.
The program, which also serves cooperative structures and startups, seeks to facilitate the transition from an informal to formal economy as well as to promote the creation of sustainable jobs, AfDB added.
The program includes two axes, with the first including the extension of social protection and promotion of jobs, while the second axis focuses on supporting universal health coverage.
The first axis seeks to focus on people who lost their jobs during the COVID pandemic, as well as those who faced challenges to access the labor market, including women and beneficiaries of vocational training.
The program also aims to allow 90% of Morocco’s population access to basic medical coverage by 2025, compared to 74% in 2021.
The AfDB’s statement recalled the effects of inflation and the health crisis on people across the world, shedding light on the importance of strengthening social and economic inclusion.
The new approved budget comes in addition to an €87 million loan that AfDB approved last year to Morocco, with the aim of setting up an integrated and inclusive social protection program in Morocco.
The continental bank stressed that the loan reinforces the extension of social protections to seven million children and young people as well as eleven million self-employed people to meet Moroccans’ growing demands for health services.
In the past few years, Morocco has been touting far-reaching ambitions to expand its social security system and ensure healthcare protections for all citizens.
The pledges came after King Mohammed VI introduced the new social security project in April 2021,seeking to benefit Moroccan artisanal workers, farmers, craft workers, as well as other independent private employees.
