World Bank Approves $611 Million Loan to Boost Morocco’s Digital Economy

Specifically, the program aims "to accelerate the adoption of digital technologies in order to make them a source of jobs, growth and better quality services, and to equip itself with an essential base," says a statement from the international financial institution, according to which the new financing will allow the Moroccan government to continue the "reforms aimed at facilitating Morocco’s transition to the New Economy".

For the World Bank, the kingdom "has made significant economic and social progress, which has fueled the aspirations of the population, especially among young people," adding that "the Moroccan authorities have launched ambitious plans to meet these aspirations, and their initiatives will benefit from the full support of the World Bank Group. Morocco has tremendous potential. To realize it, it must invest in young people to give them the skills they will need to be the engine of economic transformation. And it must promote the dynamism of the private sector, the key to job creation."

For the senior financial sector specialist and project team leader, Djibrilla Issa, "this program aims to support the development of an inclusive financial sector and a competitive digital economy that benefits all Moroccans. It will address the issues of economic and social integration that particularly affect young people, women and rural populations."