World Bank Approves $100 Million Loan to Boost Casablanca’s Development and Climate Resilience

The new loan has been requested by the economic capital, in order to relaunch the various actions of the program with a new component relating to climate resilience. Thus, the total cost of implementation is estimated at $501.3 million, of which $300 million is financed by the World Bank.

The objective is to strengthen the investment capacities of the city of Casablanca by improving the municipal revenue management system, strengthening the business environment and attracting private investments in infrastructure and services through public-private partnerships.

The program also aims to improve the living conditions of thousands of households in disadvantaged neighborhoods by giving them access to basic services. Casablanca has thus requested new financing from the World Bank with the extension of the program’s duration until June 2026.

For the record, the World Bank had approved in 2017 a first loan of 172 million euros ($200 million) to the city of Casablanca as part of this program activated in February 2018 and initially scheduled to be closed in March 2023.