World Bank Group President David Malpass will travel to Casablanca and Rabat on Wednesday, March 23, 2022 for a two-day visit.
This is David Malpass’s first visit to Morocco as President of the World Bank Group. This visit is part of the collaboration between Morocco and the global financial institution which aims to improve results in terms of citizen development.
“The Kingdom of Morocco is a long-standing partner of the World Bank Group, and we are delighted to support its initiatives in implementing substantial development reforms,” said World Bank Group President David Malpass. “The Kingdom’s efforts for better development results across the region are commendable, and I look forward to the country hosting the World Bank Group’s 2021 Annual Meetings next year. and the International Monetary Fund”. This visit is an appropriate opportunity for David Malpass to meet senior officials as well as representatives of the private sector.
During his visit, David Malpass will be accompanied by Ferid Belhaj, Vice-President of the World Bank for the Middle East and North Africa region, Jesko Hentschel, Country Director for the Maghreb and Malta at the World Bank and Xavier Reille, Director of the International Finance Corporation (IFC) for the Maghreb.
It should be noted that the active portfolio of the World Bank in Morocco includes 20 projects of the International Bank for Reconstruction and Development (IBRD) for a total of 5.2 billion dollars. In the past fiscal year, the World Bank committed a record $1.8 billion overall, making Morocco one of the largest recipients.
In calendar year 2021, the International Finance Corporation invested $447 million in Morocco.
In addition, the World Bank considers Morocco’s approach to development, which revolves around a new development model designed to meet the challenges of globalized competition, national social cohesion, job creation and strengthening of human capital. In this sense, the World Bank Group and Morocco are establishing a country partnership for the period 2019-2024.
The objective of this partnership is to determine the strategic axes of the World Bank Group and to draw the contours of its support for the long-term development objectives of the country.