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
Visa says premium cards already widely adopted in Senegal Training aims to help banks better target and serve high-end clients Strategy focuses on...
71% of consumers say lending rates remain non-competitive across African markets. Over 54% of respondents cite a lack of transparency on interest...
Pilot to expand SME financing via crowdfunding Project introduces crowdlending, investing to address limited bank credit FOGEC to guarantee...
Lomé hosts conference on expanding insurance access for low-income groups Stakeholders discuss microinsurance solutions for informal and rural...
Most Read
01

Firms move beyond payments toward integrated SME platforms Services include invoicing, inve...

African fintechs are moving beyond payments - and into business operations
02

Novo Nordisk cuts Wegovy prices in South Africa amid competition Move targets rival Eli Lil...

Drugmakers ramp up competition in South Africa’s obesity treatment market
03

The BCEAO now allows UEMOA citizens abroad to open CFA franc accounts under the same conditions as...

West Africa Targets Diaspora Funds With New Banking Access Rules
04

ECOWAS, Energy China discuss regional power infrastructure cooperation Talks cover $36.3...

ECOWAS, China Discuss Cooperation on West Africa Power Projects Under $36.39B Plan
05

South Africa pushes faster oil, gas exploration despite legal challenges Environmental groups’ co...

South Africa pushes offshore drilling despite environmental legal challenges
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.