Working visit of a delegation of the World Bank board of directors : 23/02/2011

Working visit of a delegation of the World Bank board of directors

Mr. Salaheddine Mezouar, Minister of Economy and Finance received, Tuesday, February 22nd 2011, a delegation of the World Bank board of directors, which is in a working visit to Morocco from February 19th to 23rd 2011. This meeting is part of regional visits conducted by the Bank Group Board members to assess the results in terms of the implementation of the country assistance strategies of the World Bank.

During this meeting, Mr. Salaheddine MEZOUAR stated that this visit allowed the Bank`s board members to report on Morocco`s performance and progress in the economic and social development and to account for the good cooperation between our country and the Bank to support this momentum of progress and development.

In this regard, Mr. Mezouar highlighted Morocco`s efforts for social and economic development, and noted that Morocco achieved satisfactory performance in terms of growth, inflation, budget deficit, despite a difficult international context.

Mr. MEZOUAR reported that the upward momentum of the Moroccan economy is the outcome of diversifying sources of growth and enhancing the contribution of new sectors, thanks to a new generation of integrated sectoral strategies and the launch of large infrastructure projects in areas including highways, ports and airports, railways, housing and drinking water supply and sanitation.

Mr. MEZOUAR recalled that these results were recognized by international bodies and helped improve the ratings of Morocco by Standard & Poor`s, in March 2010, at investment grade, recently confirmed by Fitch Ratings.

He also pointed out to Morocco`s efforts and commitment to strengthening solidarity, social cohesion and proximity policy, particularly through the implementation of the National Initiative for Human Development (NIHD), the emergency Education and Training Program, extending health care coverage extension, improving access to housing and accelerating the pace of rural electrification programs, drinking water supply, education and roads and rural tracks.

As to cooperation relations between Morocco and the Bank, the Minister welcomed the importance, quality and diversity of these links through the Bank`s contribution to financing major reform programs, investment projects and technical assistance operations.

In this regard, the Minister invited the Bank to continue its support to reforms initiated by Morocco, particularly in areas which are very significant, namely justice, training and the competitiveness of the economy and renewable energy.