Signing ceremony of a loan agreement between Morocco and the World Bank for the project of support of the (INDH). : 27/07/2012

Signing ceremony of a loan agreement between Morocco and the World Bank for the project of support of the (INDH).

The Minister of economy and finance, Mr. Nizar BARAKA, and the Director of the Maghreb Department in the regional office of the World Bank for the Middle East, Mr. Simon GRAY, signed, Friday, July 27th 2012 at the headquarters of the Ministry, a loan agreement of $ 300 million to support the second phase of the National Initiative for human development (INDH).  

The second phase of the (INDH). (2011-2015) follows up the first phase of this initiative, launched in 2005 and sets out five priorities, namely the fight against poverty in rural areas, against social exclusion in urban areas and against insecurity, transversal programme and territorial upgrade programme.

Other loan and grant agreements were also signed during this ceremony held in the presence of several members of the Government.

It is a loan for skills development policy and the amount of 100 million dollars is used to support reform process to improve skills, productivity and employment quality.

In addition, the Bretton Woods institution granted Morocco $ 15.8 million dollars to finance the project to improve the performance of the judiciary (Mahkamati). This project aims to strengthen the capacity of the sector of justice for providing effective, transparent and timely services to citizens and businesses.

A loan of 50 million dollars was donated for the project to develop micro, small and medium-sized enterprises (MPME), which aims to support the provision by the central fund of partial credit guarantee to the participating institutions to mitigate the risks of their loans to MPME credit.

The institution granted the Kingdom a donation for the global environment amounting to $ 5.18 million for the project of integrated management of coastal zones (GIZC) The objective of the project is to strengthen the protection of the biodiversity of ecologically sensitive areas in the country`s Eastern Mediterranean coast.

Speaking on this occasion, the Minister stressed the excellence and exemplary relations of cooperation between Morocco and the World Bank which supports the government policies of development.

For his part, Mr. Gray welcomed Morocco`s "bold" steps during the last decade, intended to meet the expectations of the people and move the Kingdom towards sustainable development. "The Bank is trustful and optimistic about the future of Morocco", he maintained.