World Bank signs $350 million financing agreement with Morocco

Morocco continues to strengthen its relations with major global institutions, thus gaining their trust, notably that of the World Bank, which signed a financing agreement with the kingdom.

To this end, Nadia Fettah Alaoui, Minister of Economy and Finance, and Jesko Hentschel, Regional Director for the Maghreb region and Malta at the World Bank, signed a financing agreement of 350 million dollars concerning a program to support the implementation of reforms of institutions and public enterprises.

This agreement aims to strengthen the exemplary cooperation relations with the World Bank and to support the implementation of the reform program of public institutions and enterprises launched by the Kingdom, in accordance with the royal directives aimed at reforming the sector of public institutions and enterprises, in particular through the adoption and implementation of Framework Law No. 50-21 on the reform of public institutions and enterprises, as well as Law No. 82-20 concerning the creation of the National Agency for the Strategic Management of State Contributions and the monitoring of the performance of public institutions and enterprises.

This agreement comes after the approval by the Council of Ministers, meeting on June 1, 2024 under the chairmanship of His Majesty King Mohammed VI, of the strategic orientations of the State contribution policy, as one of the pillars of the reform of the sector of institutions and public enterprises, aimed in particular at restructuring the public portfolio, improving its performance and governance, as well as strengthening the contribution of the private sector to investment efforts.

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