The Minister of Economy and Finance, Mr. Mohammed BOUSSAID, chaired Tuesday, May 27th , 2014 at the headquarters of his Department in Rabat, with the Director of the Maghreb Department in the World Bank, Mr. Simon GRAY, and Mr. Ali Fassi Fihri, Chief executive officer of the ONEE, a signing ceremony of loan agreements. It is initially about a loan agreement of the development policy to support the development of capital markets and finance small and medium-sized companies. Secondly, loan and guarantee agreements relating to the project on drinking water provision in rural area of the National office of Electricity and Drinking water (ONEE).
In his speech, Mr. Mohammed BOUSSAID underlined the privileged cooperative relations which Morocco maintains with the World Bank.
He recalled that these links, intensified with the adoption of the new strategic partnership framework (CPS) covering the period 2014-2017, make this institution one of the major donors that accompanies our country in its efforts to promote economic growth and fight against poverty.
Similarly, the Minister pointed out the importance of the regular support given by the World Bank in our country for its economic and social development through the financing of structural and sector-based reform programs and investment projects. Mr. BOUSSAID stated that the equity loan to develop the financial sector which will benefit from a 300 M$ aims to develop the capital market and the financing of small and medium-sized enterprises in our country. He recalled, in this regard, that the strengthening of the financial sector is a high priority for the Government and has been the subject of major reforms which enabled its modernization and its contribution to finance economy.
For his part, the Director of the Maghreb Department at the World Bank, Mr. Simon Gray, said at the ceremony that the loan of 300 M$ ' recognizes again the important efforts of Morocco to develop its financial system and reinforce its monitoring’. He also stressed that Morocco’s reforms in this area will enhance the profile of Casa Finance City.
Regarding drinking water supply project for rural areas, covering an amount of more than 115 M€, the Minister indicated that the signing of the agreements relating to this project is a support to the Government strategy to facilitate the access of rural people to basic services and the generalization of access to drinking water and sanitation.
He also indicated that the World Bank’s loan will support the Government’s efforts to widespread rural access to high quality drinking water. Mr. Simon Gray stated, at this ceremony, that this project will also promote the transition process implemented by the ONEE of the drinking water supply by individual connections