The World Bank will approve this week a $350 million loan to help Morocco implement its blue economy development program. This credit represents 79.74% of the total financing of the five-year program (2022-2026) estimated at $438.90 million.
Remittances made by Moroccans Living Abroad (MRE) for last year increased by 40% , thanks to the resumption of activities in the host countries of the European Union as well as by transit migrations.
The World Bank is expected to grant a $180 million loan to Morocco by the end of the month to support a program for the resilience and sustainability of irrigation water .
The World Bank wants to provide financing to Morocco to mitigate the effects of the drought . An important irrigation project is in the process of being approved by the institution’s board to address water scarcity.
The Moroccan economy is expected to grow by 3.2% in 2022 compared to a growth of 5.3% recorded last year, according to the World Bank.
Jeune Afrique has devoted an article to the recent accusations that Algeria has made against Morocco but also the World Bank , after the publication of the latest report by the multilateral institution on the economic situation of its eastern neighbor. The pan-African magazine sees it as a tendency of Algiers to raise the threat of the Moroccan external enemy to maintain control.
Moroccans living abroad (MRE), estimated at five million, of whom nearly a fifth are in Spain, have transferred a lot of funds to Morocco during the health crisis. By the end of October, these transfers had reached nearly 8 billion euros, an increase of 43.3% compared to 2020.
The World Bank’s Board of Directors granted a new loan to Morocco on Tuesday, September 7, 2021. This financing will be used to develop the public sector.
Serious threats loom over Moroccan cities. Between abnormal constructions, industrial risks, fires, natural hazards, urbanization and others, the implementation of land use and construction regulations is more than essential.
The economic recovery will certainly be gradual, but it cannot be delayed. This is the estimate made by the World Bank (WB) in its recent report related to the monitoring of the economic situation in Morocco.
Morocco has been able to take advantage of the Covid-19 crisis to turn it into an opportunity and launch an ambitious program of transformative reforms capable of boosting GDP growth to 4.6% in 2021. This is what a World Bank report on the evolution of the economic situation indicates.
In 2020, as the health crisis had reached its peak with its upheaval in the world of work and on the social level, migrants, particularly members of the Moroccan community based abroad , showed their firm determination to help their relatives and families in the country by sending them money. This gesture represents a great sacrifice, said on Wednesday the UN Secretary-General, Antonio Guterres, on the occasion of the International Day of Family Remittances, calling on countries to continue their support for these exceptional workers.