Thanks to the « transformative » reforms undertaken under the enlightened leadership of His Majesty King Mohammed VI, the Kingdom’s economic fundamentals have been strengthened, said, on Monday in Marrakech, Head of Government, Aziz Akhannouch.
« Thanks to the transformative reforms undertaken under the enlightened leadership of His Majesty King Mohammed VI, may God assist Him, our economic fundamentals have been strengthened, our basic infrastructure modernized and the living conditions of our population considerably improved, » said Akhannouch, on the occasion of the celebration of 65 years of partnership between Morocco and the World Bank Group, as part of the Annual Meetings of the WB and the International Monetary Fund (IMF).
He also stressed that Morocco is now at a turning point in its development, as evidenced by the organization of major events, including the WB/IMF Annual Meetings, the African Cup of Nations in 2025, and, as announced last week by His Majesty the King, the Football World Cup in 2030, alongside Spain and Portugal, which is the pride of an entire Nation.
Referring to the Al Haouz earthquake, which caused significant human and material losses, the Head of Government highlighted the Kingdom’s resilience in three dimensions.
The first, he detailed, was the State’s strong response, in accordance with the High Instructions of His Majesty the King, to come to the prompt and effective aid of disaster-stricken families and citizens, deploy urgent rehabilitation and reconstruction measures in the localities affected by this disaster, and implement an ambitious five-year program aimed at strengthening socio-economic development in the affected areas.
« The second illustration of Morocco’s resilience is the solidarity of our fellow citizens and Moroccans around the world, who demonstrate, in every ordeal and at every celebration, the indefectible bond that binds the people and the entire Nation to the Glorious Alaouite Throne, » he added.
Akhannouch noted that this Moroccan resilience is also strengthened by the international support of the Kingdom’s friends, countries and multilateral institutions.
Welcoming the fruitful partnership between Morocco and the WB, the Head of Government noted that this ceremony, attended by President of the World Bank Group, Ajay Banga, and Minister of Economy and Finance, Nadia Fettah, was an opportunity to take stock of the progress made, to continue to make this partnership « an exemplary model of cooperation » for development.
Since Morocco joined the WB in 1958, the Bretton Woods institution has given its full support and backing to a large number of structural and sectoral reforms undertaken by the Kingdom, noted Akhannouch, pointing out that this partnership has enabled the financing of over 230 projects worth around 21 billion dollars.
« We are confident that the World Bank will continue to accompany us as we set about implementing the far-sighted strategic vision initiated by His Majesty King Mohammed VI, May God Assist Him, to anchor our country durably on a sustainable and inclusive economic and social development trajectory, » he stressed.
According to the Head of Government, the World Bank’s active portfolio of projects in Morocco amounts to over 7 billion dollars, reflecting the enduring convergence between WB interventions and executive priorities.
Pursuant to the Royal High Directions, the government has been working since October 2021 to build the social state, through priority reforms in social protection, health and education, he recalled, noting that these sectors account for 36% of the WB’s active portfolio in Morocco.
The Head of Government added that the WB also backs the executive’s other priorities, in vital sectors such as water and agriculture, as well as in the areas of governance and digital transition, noting that the Kingdom and the Bank can capitalize on this exemplary and ambitious collaboration.
