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The World Bank supports Morocco in digital transformation

Monday, the Board of Directors of the WB approved funding of 500 million dollars (nearly MAD 5 billion) intended to support the important political reforms necessary for the establishment of an environment conducive to digital transformation in Morocco.

Financing in support of development policies in favor of digital and financial inclusion builds on the reforms already initiated by the authorities and aims to improve financial inclusion by enabling businesses and households to have access to more competitive digital infrastructure and services, the World Bank said in a statement on Monday.

The funding will help stimulate private sector growth by making it easier for start-ups and young entrepreneurs to access finance, says the Bretton Woods institution. “The Covid-19 epidemic has demonstrated the paramount importance of digital transformation to ensure continuity of services and foster innovation,” said WB Maghreb director of operations Jesko Hentschel, noting that since the outbreak of this crisis, Morocco has accelerated its digital transition, demonstrating its ability to move up a gear.

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