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Rabat – Morocco has once again emerged as a major borrower from the World Bank’s International Bank for Reconstruction and Development (IBRD), securing a prominent spot among countries receiving critical financing for development.
The North African nation, focused on bolstering infrastructure and economic resilience, received $1.75 billion in IBRD funding for the fiscal year ending in June, placing it within the top seven global borrowers for the institution.
The World Bank approved a total of $68.76 billion in global financing in 2024, of which $37.56 billion was channeled through the IBRD, supporting middle-income nations with creditworthy profiles.
Morocco’s sustained borrowing reflects its commitment to essential sectors, such as education, healthcare, and financial inclusion, which remain vital for the country’s growth and stability.
The country had already secured $1.85 billion from the IBRD in 2023, positioning it as the sixth-largest borrower globally, closely following large economies like India, Turkey, and Indonesia.
IBRD commitments targeted key areas in Morocco this year, with a notable $450 million allocated to advance financial inclusion and foster digital entrepreneurship.
Such initiatives have had a measurable impact, with financial services access for Moroccans rising from 29% in 2017 to 44% in 2023.
These programs align with Morocco’s ongoing push for economic diversification and tech-driven development, aiming to bridge the financial services gap and empower small businesses.
Despite dropping slightly from sixth to seventh place among IBRD beneficiaries, Morocco remains the top borrower in the Middle East and North Africa region.
