Signing ceremony of the Minister Delegate in charge of the Budget with the World Bank
25/07/2022
At the headquarters of the Ministry of Economy and Finance, Mr. LEKJAA Fouzi, Minister Delegate to the Minister of Economy and Finance, in charge of the Budget, and Mr. Jesko Hentschel, Director of the Maghreb and Malta, Middle East and North Africa Department of the World Bank, signed, on July 25th 2022, a financing agreement for an amount of USD 500 million. The latter represents the first installment of the loan dedicated to the "Strengthening of human capital for a resilient Morocco".
The objective of this funding is to improve protection against health risks, loss of human capital in childhood and poverty in old age, and to improve climate risk management and resilience to catastrophic events.
The proposed financing is built around three pillars, the first of which includes measures to strengthen physical and human resources to improve health services for all beneficiaries and to enroll up to 11 million TNS and their dependents and to integrate up to 11 million people currently enrolled in RAMED into the AMO.
The second pillar includes measures to implement the Family Allowance (FA) program and expand coverage of pension schemes. This reform includes the adoption of decrees and other legislation to ensure proper governance, identification and targeting of health and social protection reform.
As for the third pillar, it aims to improve resilience to natural disasters and climate risks, in particular by strengthening the institutional and coordination framework for disaster and climate risk management, creating coordination committees bringing together key stakeholders, and improving risk transfer mechanisms such as agricultural insurance.
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