World Bank praises Morocco's progress

The economic institution also pledges to continue to support the reforms promoted by the Kingdom 
Sede del banco BMCI Group BNP Paribas en Casablanca, Marruecos - PHOTO/ATALAYAR
Headquarters of the BMCI Group BNP Paribas bank in Casablanca, Morocco - PHOTO/ATALAYAR

The World Bank (WB) has praised Morocco's "enormous progress" and pledged to continue supporting the country's ambitious reform agenda.  

The financial institution reiterated its support and commitment to the Kingdom during a visit to Rabat by Ousmane Dione, the World Bank's vice president for the Middle East and North Africa (MENA) region, who met this week with Nadia Fettah, Morocco's Minister of Economy and Finance. 

Following this meeting, Dione highlighted Morocco's achievements in a press release. "The Kingdom of Morocco has made tremendous progress in recent years and has the potential to make even more progress in the future," he said. This positive outlook underscores the World Bank's confidence in Morocco's track record, as well as its desire to be a key partner in the country's continued development.

According to the statement, the World Bank's partnership with Morocco goes beyond mere financial support. The institution is committed to working with the North African Kingdom to help it achieve its long-term development goals. 

Key areas of focus include critical reforms in financial and digital inclusion that, according to the bank, are crucial to expanding economic opportunities for all Moroccans. 

La ministra de Finanzas de Marruecos, Nadia Fettah - REUTERS/ELIZABETH FRANTZ
Morocco's Finance Minister Nadia Fettah - REUTERS/ELIZABETH FRANTZ

The World Bank particularly supports reforms focused on social protection and healthcare with the aim of strengthening the social safety net and ensuring that all citizens have access to basic services. 

Dione stressed the World Bank's desire for a "rich, fruitful and long-term" partnership with Morocco, noting in this regard the need to prioritise sustainable job creation, a key driver of poverty reduction and overall economic well-being.  

This focus on long-term benefits for the Moroccan people aligns with the government's own economic and social development objectives

Sede central del Bank al-Maghrib en Rabat, Marruecos - <a  data-cke-saved-href="" href="">Depositphotos</a>
Bank al-Maghrib headquarters in Rabat, Morocco - Depositphotos

Dione's meeting with the Moroccan Finance Minister built on a framework for cooperation established during the World Bank-IMF Annual Meetings in Marrakech last October, a month after the devastating earthquake.  

Indeed, these meetings saw the signing of the "Rapid Response Option" (RRO) agreement, which Morocco has described as a critical step in the country's effort to improve its capacity to respond quickly and effectively to emergencies such as natural disasters or economic crises. 

AFP/FETHI BELAID - Esta imagen muestra casas destruidas en la ciudad de Afella Ighir, afectada por el terremoto el 17 de septiembre de 2023
Destroyed houses in the earthquake-hit town of Afella Ighir on September 17, 2023 - AFP/FETHI BELAID 

Fettah's meeting with Dione, who was on an official visit to Morocco from 18-21 May, highlighted ongoing efforts to reinforce the long-standing and strong partnership between the World Bank and the North African Kingdom. 

Likewise, this visit is also Dione's first official trip to Morocco since he took up his post as vice president for the MENA region in April 2024.