World Bank's Strategic Framework for Morocco's Growth
In a significant development, the World Bank Group has unveiled its new Country Partnership Framework (CPF) for Morocco, covering the years 2026 to 2035. The announcement, made in Rabat, outlines a strategic plan aimed at fostering inclusive growth and enhancing job creation through private sector engagement. This initiative is closely aligned with Morocco's New Development Model, which emphasizes the importance of transitioning towards a more competitive and productive economy.
World Bank Country Director for the Maghreb and Malta, Ahmadou Moustapha Ndiaye, highlighted that the new framework embodies Morocco's aspiration to move away from a public investment-driven growth model towards one that is primarily led by the private sector. Central to this partnership is the objective of job creation, which serves as a pivotal focus of the CPF.
The framework is designed around three key outcomes: improving business competitiveness and productivity, encouraging inclusive and resilient territorial development, and enhancing human capital through better skills training, healthcare, social protection, and increased participation of women in the workforce. These outcomes aim to create a more robust economic environment conducive to growth and stability.
Moreover, David Tinel, the International Finance Corporation (IFC) Regional Representative for the Maghreb, stated that the World Bank Group will utilize its comprehensive array of tools to support private sector financing, foster public-private partnerships, and bolster sectors that are significant for job creation. Key sectors identified include infrastructure, renewable energy, logistics, agribusiness, healthcare, and tourism, which are crucial for Morocco's economic landscape.
Financially, the CPF anticipates approximately $15 billion in World Bank funding for the public sector throughout the 2026-2035 period, with IFC's commitments to the private sector expected to surpass this amount. Additionally, the Multilateral Investment Guarantee Agency (MIGA) will provide guarantees to help attract further private investments, thereby amplifying economic opportunities in the Kingdom.
The successful implementation of this framework will rely on annual action plans, ongoing dialogue with public authorities, private sector stakeholders, and civil society, coupled with regular monitoring to ensure alignment with Morocco’s developmental goals through the year 2035.
As reported by en.hespress.com.
