One year after the Marrakech Annual Meetings, the collaboration between Morocco and the World Bank continues to grow. The meetings in Marrakech gathered global leaders and representatives from various sectors to discuss critical issues such as climate change, debt management, employment, and gender equality. During these discussions, the World Bank revealed its plan to work towards a world free of poverty on a livable planet.
The meetings also highlighted Morocco's progress in development and its aim to become a regional hub for connectivity and growth. Under King Mohammed VI's leadership, Morocco has made strides in reducing extreme poverty and launched the New Development Model (NDM) in 2021. This model focuses on infrastructure improvements, job creation, ecological transition, and human capital.
Significant progress has been noted in girls' education with girls surpassing boys in expected years of schooling according to the World Bank's Human Capital Index. The World Bank Group has supported Morocco's initiatives across social protection, healthcare, education, and higher education sectors.
Morocco is actively addressing climate change by reforming energy and water sectors through strategies like the National Sustainable Development Strategy 2030 and National Climate Plan 2030. The World Bank Group supports these efforts with investment projects and technical assistance. A report emphasized immediate action on water scarcity and economic decarbonization due to rising temperatures.
The International Finance Corporation (IFC), part of the World Bank Group, aids Morocco’s goal of increasing private investment by 2035. Since 1962, IFC has mobilized over $3.5 billion for projects supporting small businesses and other sectors. Notably last fiscal year saw $600 million invested in climate-focused projects with plans for over $1 billion commitment in FY25.
For more than 65 years, the partnership between Morocco and the World Bank has facilitated transformative projects that support sustainable economic growth and poverty reduction. Currently financing 27 projects worth over $8 billion in total investments demonstrates this enduring relationship grounded in trust will continue enhancing Moroccan lives.
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