Highlights

Mr. BENCHAABOUN signs the development policy agreement with a deferred drawdown option for risks related to natural disasters : 16/01/2020

Mr. BENCHAABOUN signs the development policy agreement with a deferred drawdown option for risks related to natural disasters

On Thursday 16 January 2020, at the headquarters of the Ministry of Economy, Finance and Administrative Reform, Mr. Mohamed BENCHAABOUN, Minister of the Economy, Finance and Administration Reform and Mr. Jesko HENTSCHEL, World Bank Country Director in the regional office for the Maghreb, Middle East and North Africa Department, signed the development policy agreement with a deferred drawdown option for risks related to natural disasters in the amount of $ 275 million.

During this signing ceremony, Mr. Mohamed BENCHAABOUN thanked the World Bank for agreeing to support the Government's efforts, through this funding, in setting up a plan to cover the consequences of catastrophic events, which came into force on January 1, 2020. This plan consists of an insurance component for people with an insurance contract and a benefit component for people without coverage.

 

The Minister of Economy, Finance and Administration Reform emphasized the importance, the quality and the diversity of Morocco's cooperative relations with the World Bank. He stated, on this occasion, that this institution continues to support the economic and social development momentum that Morocco enjoys.

 

Mr. Mohamed BENCHAABOUN and Mr. Jesko HENTSCHEL affirmed their commitment to work together to further strengthen the already excellent cooperation and partnership relations between Morocco and the World Bank.