The vice-president for the MENA region at the World Bank (WB), Ferid Belhaj, indicated in Rabat that Morocco is “an example for the whole region” and an anchor in terms of policy engagement of development and reform.
During a working session with Nadia Fettah Alaoui, Minister of Economy and Finance, Ferid Belhaj, visiting the Kingdom from November 9 to 13, was indeed pleased with the displayed will of the new government and its firm commitment to the implementation of the Kingdom’s major priority projects.
He also expressed the World Bank’s interest in strengthening its support for Morocco’s economic and social development efforts.
The vice-president of the WB for the MENA region, at the same time, praised the work carried out within the framework of the new development model, adding that the “convincing” results of this study show that Morocco is “on the right track”.
In this regard, the official expressed his institution’s readiness to provide support, both financial and technical, to the various large-scale reform projects undertaken by the Kingdom.
Ferid Belhaj, who praised the “long, strong and deep” cooperation established between the WB group and Morocco, said the institution has increased its financial commitment to Morocco for two years.
“We are at around $ 1.8 billion,” he said, signaling the institution’s intention to continue on this level of commitment.
For her part, Nadia Fettah Alaoui stressed that this working session was an opportunity to review the main priority reform projects that will be undertaken by the Government, recalling that it is these reform projects that have dictated the main orientations of the finance bill for the year 2022.
The Minister also affirmed that the partnership which binds Morocco to the World Bank Group is “exemplary”, specifying by way of example that the Bank’s assistance for this year has made it possible to finance, essentially the key sectors of the Moroccan economy, in particular social services (education, health, social protection, human development, etc.), the financial sector, agriculture and transport.
In addition, the Minister invited the World Bank, as part of its continued support for reform projects initiated by Morocco, to further strengthen its financial support to the Government in its efforts to contain the effects of the Covid-19 crisis and to implement its development program.
This meeting was also an opportunity to call on the head of the World Bank to ensure that this institution is also a knowledge institution by providing Morocco with its expertise and know-how in certain priority areas, she stressed.
“We also discussed preparations for the organization, in Marrakech in October 2022, of the Annual Meetings of the World Bank Group and the IMF,” added the minister.
The two parties thus reaffirmed their commitment and their common will to make this event a success in order to strengthen the regional and international influence of the Kingdom.