The World Bank approves a new program of support with Morocco

The World Bank (WB) Group's Board of Executive Directors endorsed, Tuesday, a new Country Partnership Framework (CPF) with Morocco, which will guide the financial and technical assistance program over the next six years.

The 2019-2024 CPF aims to support the Kingdom’s ambition of sharpening its competitive edge in the global economy while boosting shared prosperity among its population, says a statement of the World Bank.

In alignment with the new CPF, the Board of Directors also approved on Tuesday a Euro 611.3 million (US$700 million equivalent) project to accelerate Morocco’s adoption of digital technology as a source of improved services, growth and jobs and as key to leading the economic transformation in the North Africa and Africa region.

«Morocco has made significant economic and social progress, which has raised the aspirations of Moroccans, especially its young people,» said Marie Françoise Marie-Nelly, World Bank Maghreb Country Director, who was quoted in the statement.

«The Government has launched ambitious plans to meet these aspirations, and these efforts will receive the full support of the World Bank Group. Realizing Morocco’s tremendous potential will require investing in its youth to ensure they have the skills needed to drive the economic transformation, while unleashing the job-creating dynamism of the private sector,» she added.

The new CPF drew on consultations with the Government, private sector and civil society, as well as lessons learned from the previous Country Strategy. It identified three strategic pillars to guide World Bank Group support: promoting job creation by the private sector; strengthening human capital; and promoting inclusive and resilient territorial development.

The CPF has governance and citizen engagement as its foundational pillar, and gender and digital technology as cross-cutting themes.

The CPF will have the overarching goal of harnessing the potential of new technologies to promote entrepreneurship, productivity and e-government platforms to boost growth and innovation.