The Alawi country's political commitment and development reforms have been cited by the economic body as an example to follow

Marruecos es felicitado por el Banco Mundial

photo_camera fettah alaoui

Ferid Belhaj, vice-president for the MENA region representing the World Bank (WB), has been in Morocco for a few days and during his stay, he praised Morocco's recent commitments, for its political and economic management, among others. During a working meeting with Nadia Fettah Alaoui, Minister of Economy and Finance of the Kingdom, he declared to the Minister the interest of the financial institution in strengthening the economic and social development of the Maghreb country. In addition, he praised the efforts of the new government and its commitment to the nation. "Morocco is an example for the whole region. It is on the right path," Belhaj reiterated.  

The vice-president expressed the WB's readiness to offer both financial and technical support for the projects that have begun to be implemented in the territory. In addition, Belhaj affirmed that the institution has increased its monetary agreements with the Kingdom for two years, revealing the figure: "We are around 1.8 billion dollars, and we will continue to raise this level of commitment". For her part, Minister Fettah-Aloui indicated her appreciation for the words and called on the WB to "further strengthen its financial support to the government in its efforts to contain the effects of the COVID-19 crisis and implement its development programme". The minister also recalled that these reforms have been dictated by the government itself in the Finance Law plan for 2022, which is one of President Akhannouch's new commitments. 

The minister also affirmed that this partnership between the Kingdom and the financial organisation will enable key sectors of the Moroccan economy to be financed, particularly those dedicated to social services such as education, health, social protection, and human development. Part of this aid will also be used to improve the country's financial sector, agriculture, and transport system

During his visit to the Alawi kingdom, he also met with Aziz Akhannouch, the country's prime minister, and Belhaj spoke about the WB's support for Morocco's reforms, as well as its incredible progress and commitment to renewable energies, making it a leader for all the countries in the region. He also spoke of the Annual Meetings scheduled for 2022 in Marrakech, organised by the International Monetary Fund (IMF) and the World Bank, which have been postponed until that year due to the pandemic and which are intended to address global economic issues. 

The new government has not been short of praise in its first months in office. On 7 October, King Mohammed VI appointed Aziz Akhannouch, a member of the Independent National Rally party, which ousted the Islamist PJD, which had held the nation's reins for ten years. In recent months, the country has undergone a series of major reforms, which will be carried out during Akhannouch's tenure, and which aim to modernise the country by focusing on key sectors such as culture, the economy, politics and other social issues. 

More in Economy and business
CRITTA TDC
The Regional Investment Center of the region Tangier Tetouan Al Hoceima organized on Thursday, March 28 at Tecnopark Tangier an information conference on the Territory Development Challenge for project idea holders who want to participate in the competition.

The CRITTA reiterates its call to the TDC from Tecnopark Tangier