The World Bank approves $US500 million to support digital inclusion reforms in Morocco

The World Bank approved, Monday, a US$500 million financial and Digital Inclusion Development Policy Financing (DPF) program to support the country’s reforms in digital transformation.

The program aims to «to improve financial inclusion and access to more competitive digital infrastructure and services for businesses and individuals» and «spur private sector growth through access to finance for startups and youth-led enterprises», a press release by the World Bank read.

«The Covid-19 outbreak demonstrated the paramount importance of digitalization as a means to ensure business continuity and promote innovation. During this crisis, Morocco’s digital transition accelerated rapidly, showing the country’s capacity for a greater scale up. Today, more than ever, digitalization opens new opportunities for Morocco, ranging from more fluid economic transactions to better services to citizens and businesses», said Jesko Hentschel, World Bank Maghreb Country Director.

The program will allow innovative startups in Morocco import digital services «that are not available in Morocco», said Dalia Al Kadi, Senior Economist and co-Task team leader.

The World Bank’s program will also support policy reforms in Morocco and the digital transformation of companies and administrations.