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Morocco and The World Bank to strengthen cooperation

Morocco and the World Bank (WB) pledged to further strengthen their cooperation, during the talks held in Washington, between the Minister of Economy and Finance, Mohamed Benchaaboun and the president of this international institution, David Malpass.

At this meeting, which took place on Friday during the Spring Meetings of the WB and the International Monetary Fund (IMF), Benchaaboun and Malpass “hailed the quality of Morocco’s cooperation with the World Bank and expressed their determination to further strengthen these relations”.

The minister recalled, on this occasion, the first generation of reforms initiated by Morocco, during the last two decades, which led to “to ensure the political stability of the Kingdom, the consolidation of the rule of law and the strengthening institutions, as well as the development of public investments that have helped support economic growth and reduce poverty,” said in a statement.

He also pointed out that a second generation of reforms is now underway, as part of a reflection on the new development model, with the aim of promoting private job creation, strengthening the capital human rights and to ensure inclusive territorial development.

Mr. Benchaaboun said, in this regard, that the new Country Partnership Framework 2019-2024, adopted on February 19, 2019 by the World Bank Executive Board, is “in line with government priorities”.

“This new partnership framework should give new impetus to the fruitful cooperation relations between Morocco and the World Bank,” he added.

For his part, David Malpass, newly elected President of the World Bank Group, congratulated Morocco for the reforms already undertaken and announced the Bank’s willingness to support the Kingdom in “continuing its efforts to reforms that can lay the foundations for sustainable and equitable growth”.

The meeting between the Minister of the Economy and Finance and the President of the World Bank Group was also an opportunity to review the state of play regarding the organization of the 2021 Annual Meetings of the World Bank and the IMF in Marrakech.

In this regard, Mr. Benchaaboun stressed that Morocco will spare no effort to ensure the success of this important event.

Meetings of the World Bank and the International Monetary Fund are being held in Washington (April 8-14) with representatives from member countries of the two institutions, the private sector, NGOs, academia and the media to discuss global issues: global economic situation, fight against poverty, economic development, aid effectiveness…

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