The World Bank approves a $450 million loan to Morocco

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The World Bank announced Friday that it has approved a $450 million loan to Morocco to enhance access to financial and digital services.

The bank said in a statement that the loan “is the second to finance development policies for financial and digital inclusion in a series of three loans, and aims to expand the provision of financial services and digital infrastructure to individuals and businesses.”

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Jesco Henschel, Regional Director of the Maghreb Department at the World Bank.

“The coronavirus crisis has had a disproportionate impact on the most vulnerable and needy groups, including women, youth, informal workers, and smaller businesses.”

The international official added, according to the statement, “The improvement in access to financial and digital services has proven for these segments of society, and its paramount importance to limiting their social exclusion during the crisis.”

Last June, the World Bank announced its approval of a $48 million loan to Morocco to help it manage the effects of the Corona pandemic.

As of Thursday evening, Corona’s injuries in Morocco reached 525,443 injuries, including 9,225 deaths, and 512,487 cases of recovery, according to data from the Moroccan Ministry of Health.

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The number of beneficiaries of the vaccination campaign, which began on January 28, until last Saturday, reached 9 million and 372 thousand people out of about 36 million of the country’s population.

On June 10, the World Bank expected in a report that the Moroccan economy will grow by 4.6 percent during 2021, better than its previous expectations.

The World Bank’s estimates are also identical to the expectations of the High Commission for Planning in Morocco (the official statistics authority) and close to the expectations of the Moroccan Central Bank of 4.7 percent growth.