Rabat- Morocco and the World Bank (WB) signed the ‘Rapid Response Option’ (RRO) agreement on Monday in Rabat, marking an important step in the Kingdom’s ability to respond quickly to emergencies and provide crucial support to its citizens. Morocco and the WB signed this agreement to help the Kingdom face disasters.
The agreement was signed by Nadia Fettah, the Minister of Economy and Finance, and Jesko Hentschel, the World Bank Country Director for the Maghreb and Malta. The signing took place during a working meeting with Ousmane Dione, the WB Vice President for the Middle East and North Africa (MENA), who is visiting Morocco from May 18 to 21.
The RRO is an important part of the World Bank Group’s crisis preparedness and response toolkit. It is designed to help countries use their existing WB funds more effectively and quickly in times of crisis.
Under this agreement, Morocco can access up to 10% of its undisbursed WB portfolio for rapid response actions. This flexible mechanism allows the government to quickly provide essential services such as healthcare, shelter, and food to communities affected by disasters or emergencies.
In an interview with Moroccan press MAP, Minister Fettah highlighted the importance of the strategic partnership between Morocco and the World Bank, noting that this agreement is unique and the first of its kind in the MENA region.
This meeting with Dione is part of strengthening the long-standing partnership between Morocco and the WB. It is also Dione’s first official visit to Morocco since becoming Vice President for the MENA Region on April 16, 2024.
The ongoing partnership between Morocco and the World Bank encompasses a spectrum of endeavors aimed at fostering sustainable development, economic growth, and social progress. Such collaborative efforts underscore the shared commitment of both parties towards advancing prosperity and well-being for the people of Morocco and the broader MENA region.
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