World Bank Report Highlights Morocco’s Economic Strength Ahead of IMF Meetings

According to the report focused on "the results of its activities" carried out from July 2022 to June 2023, Morocco is the 11th country to have benefited from financing from the World Bank Group (WBG) and its various subsidiaries and institutions with an approved financial envelope of $1.85 billion, "a historic financing that exceeds the previous record of $1.83 billion recorded a year ago", in particular through the World Bank. The kingdom is de facto "the sixth country in the world to benefit from IBRD financing", "the largest development bank in the world", providing "financial products and policy advice" to help countries reduce poverty and extend the benefits of sustainable growth to all people and individuals.

India is the largest IBRD borrower, with $4.32 billion. It is followed by Turkey ($3.88 billion) and Indonesia ($3.25 billion). Ukraine ($3.13 billion) and the Philippines ($2.33 billion) complete the top 5 of the largest partner countries of the IBRD in 2023. With $1.80 billion, Argentina is ranked 7th in the top 10. Then come Colombia ($1.75 billion) and Romania ($1.32 billion). Angola ($1.25 billion) closes the podium. When the authors of the report integrate and count the funds from the International Development Association (IDA) allocated to the least developed and developed countries, they place Morocco in 11th place among the countries in the world that have benefited from WBG financing.

In Morocco, the WBG has supported and financed "financial inclusion" and "digital entrepreneurship" projects in recent years. "In Morocco, we have provided $450 million - the third tranche of the series of financing - to help the country implement reforms to improve financial inclusion, digital entrepreneurship and access of individuals and businesses to digital infrastructure and services," the WBG said in its annual report. The World Bank has also granted Rabat $250 million for the education support program, $350 million to support the improvement of social protection, $350 million for climate change and $450 million for health reform.