The World Bank announced last December 3 it will grant Morocco $400 million to support its social protection reform program.
According to the institution, the funds will be used to support, among others, the emergency response of social protection to the covid-19 project. This project aims to support poor and vulnerable households during the pandemic, notably through social assistance in the form of cash transfers.
Beyond the pandemic, which has already affected 379,657 people in Morocco, resulting in 6,245 deaths and 331,301 recoveries, the Moroccan authorities hope that this funding will help strengthen the resilience of populations to future shocks.
In this way, the funds will finance the country's social protection system, in particular by contributing to the deployment of family allowances, while at the same time improving governance, digital infrastructure, and the coherence of the various social programs. Thanks to its contingency funding mechanism, the government will be able to quickly reallocate funds to respond as quickly as possible to possible emergencies in the coming months.
"The program is based on a short- and medium-term approach, aimed at mitigating the impact of the crisis on large segments of the population while supporting the country's efforts to build a strong social protection system. This requires a concerted rethinking of social protection programs to align their objectives and make them more effective," said Mehdi Barouni, Senior Economist at the World Bank.
In Morocco, it is estimated that covid-19 has disempowered about 712,000 formal sector employees and 4 million workers in the informal sector.
Moutiou Adjibi Nourou
Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
First investor town hall since 2021 signals renewed engagement with markets Authorities hi...
Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...
Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...
Mauritanian Zeine Zeidane has been appointed director of the IMF’s Africa Department. A former prime minister and an IMF official for more than a decade,...
Africa’s sports economy could expand from $12bn to $30-35bn over the next decade Tourism contributes up to 8% of GDP across the continent,...
A two-year partnership will support women entrepreneurs with finance and training The initiative targets underserved and refugee-hosting...
Chevron has taken a final investment decision on the Aseng Gas Monetisation project. The project targets 550 billion cubic feet of gas with an...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...
RFI confirmed the end of “Couleurs Tropicales” following Claudy Siar’s departure after 31 years. The move follows a series of high-profile exits...