World Bank Approves $600 Million Financing for Morocco
The World Bank has approved a $600 million financing package for Morocco, which will be allocated to two programs. The first program, with a budget of $350 million, supports the implementation of public enterprise and establishment reforms. According to the World Bank's press release, the objective is to "improve governance, restructuring, competitive neutrality, and performance monitoring of public enterprises."
An additional $250 million will be allocated to the Moroccan public sector performance program. This continued support will back Rabat's efforts to enhance performance and transparency, focusing on modernizing public administration through digitization and public finance management reforms.
The World Bank will support the Moroccan government from the early stages of its public enterprise reform, focusing on results and strengthening the technical and implementation capacities of its executive bodies. The restructuring of the public portfolio is a priority for the Kingdom, as it is the means to offer accessible and quality services to the population.
The second program, launched two years ago, has already yielded notable results: a 7% increase in additional tax revenues thanks to improved national compliance. Furthermore, revenues collected by the ten largest municipalities have increased by 22%. The program will focus on improving the efficiency of public expenditures and revenue management, promoting greater budget transparency for citizens. It will facilitate the adoption of climate-sensitive budgeting, a first in Morocco, as well as gender-sensitive budgeting for eight ministerial departments by 2028.