World Bank approves $200-mln loan to Morocco

   "Through financial and technical support, this DPL aims to accompany the Government’s efforts to enlarge further the access of households and small and medium enterprises to finance, while ensuring the stability of the financial system," a statement of the World Bank said.

    Special attention will be given to the financial regulations and supervision, and to effective risk management, the statement said, adding that the project is in line with the new Country Partnership Strategy (CPS 2010-2013) and will particularly contribute to enhancing the growth and competitiveness of the Moroccan Economy.

    “Morocco has undertaken several conclusive and sound political, economic and social reforms, that have enabled the country to achieve greater growth, poverty reduction, regional and international integration,” said World Bank Country Director for Algeria, Tunisia, Morocco, Libya and Malta, Mats Karlson.

    He said the financial sector in Morocco, one of the best performing in the Middle East and North Africa Region, has proved resilient to external shocks.

   “Through this DPL, new reforms will be launched and will expand access to financial services by people and firms and reinforce the sector’s performance,” Karlsson added.

    The CPS is a flexible partnership framework that defines the support that the World Bank and the International Financial Corporation provide to Morocco.

    The new strategy proposes three thematic pillars aligned with the development priorities of the country, namely enhance growth, competitiveness and employment, improve service delivery to citizens, and ensure environmental sustainability in the context of a changing climate. It also proposes two cross-cutting “beams” - governance and territoriality.