Public Management

Morocco: World Bank provides $400mln to support social protection reforms

Morocco: World Bank provides $400mln to support social protection reforms
Monday, 07 December 2020 16:54

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

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
(YMO)-YMO, the Guinean fintech with global reach, abolishes all transfer and withdrawal fees to Guinea. A historic first for the remittance sector,...
The monthlong campaign will collect data from households and businesses. The initiative aims to improve access to financial services for vulnerable...
Subscriber base shrinks 4.4% amid taxes, regulations, and SIM rules Firm boosts investment in 5G, fintech, and regional digital platforms Sonatel,...
Zenith Bank Q3 pretax profit drops 8.4% to ₦917.4B on higher loan losses Net interest income up 50%; deposits and assets show continued growth Bank...
Most Read
01

Tunisia to launch first fully digital hospital as part of health reform. Project includes AI diag...

Tunisia to Build First Fully Digital Hospital in National Health Overhaul
02

Safaricom's M-Pesa integrated with Ethiopia's national payment network, EthSwitch, on October 27. ...

Safaricom Integrates M-Pesa Into Ethiopia's Payment Rail
03

Lukoil to sell all international assets to Gunvor amid U.S. sanctions Sale includes key oil stake...

Lukoil Agrees to Sell International Assets, African Included, to Swiss Commodities Trader Gunvor
04

ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft ...

Moroccan Bottler ECCBC Invests $77.6 Million to Grow Its Operations
05

Indian bottler VBL signs exclusive deal to test Carlsberg sales in Africa Move aims to diversify ...

Varun Beverages partners with Carlsberg to enter Africa’s beer market
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.