One year into the Marrakech Annual Meetings, the Morocco-World Bank partnership continues to strengthen

One year ago, world leaders, representatives from the public and private sectors, and civil society gathered in Marrakech for the World Bank Group and IMF Annual Meetings. Discussions centered on climate change, debt management, employment, and gender equality, highlighting the need for collective action on these pressing global challenges. It was also at these meetings that the Bank unveiled its roadmap to delivering on its ambition to create a world free of poverty on a livable planet and kicked off our efforts to being a better Bank.

The Marrakech meetings also served as a platform to showcase Morocco’s development achievements and bring international attention to how the country is moving forward to become a regional hub for connectivity and shared growth. At the same time, Morocco has significantly advanced its development goals, including by reducing extreme poverty to below two percent. In 2021, under King Mohammed VI, the New Development Model (NDM) was launched, driving infrastructure improvements, job creation, and efforts in ecological transition and human capital.

Progress in girls' education has been notable, with girls surpassing boys in expected years of schooling — 10.5 years for girls compared to 10.3 years for boys in 2020, according to the World Bank's Human Capital Index. Throughout, the World Bank Group has supported Morocco's transformative initiatives in social protection, healthcare, education, and higher education.

A RICH PARTNERSHIP

Morocco has been addressing climate change and reforming the energy and water sectors. The 2017 adoption of the National Sustainable Development Strategy 2030 and the National Climate Plan 2030 marked significant progress. Morocco launched an ambitious investment program for drinking water supply and irrigation to combat water scarcity and drought. The World Bank Group has supported these initiatives through investment projects, programs, and technical assistance. The 2022 Country Climate and Development Report (CCDR) for Morocco emphasized the need for immediate climate action, focusing on water scarcity and economic decarbonization to manage diminishing water resources and rising temperatures.

As a testament to a one World Bank Group approach, IFC has also remained by the side of the Moroccan people, supporting Morocco's objective of increasing private investment from one-third to two-thirds of total investment by 2035. Enhancing competitiveness through private sector support involves efforts to foster innovation and develop new industries. Initiatives include providing financial resources, technical assistance, and policy advice to help businesses adapt to new market conditions and leverage emerging opportunities.

Since 1962, IFC has partnered with over 100 entities in Morocco, mobilizing and investing over $3.5 billion in projects supporting small businesses, manufacturers, agribusinesses, infrastructure, and the financial sector. Morocco has been a hub of innovation for IFC, with notable investments like the first stock market investment fund in 1994 and the first bond issued by an international institution in Africa in 2005. Last fiscal year, IFC invested $600 million in 11 projects focused on climate change. For FY25, IFC aims to commit over $1.0 billion, with $400 million already invested in the first quarter.

For over 65 years, the World Bank has partnered closely with the Kingdom of Morocco, supporting its development journey. This enduring collaboration has facilitated numerous transformative projects, fostering sustainable economic growth, reducing poverty, and enhancing the quality of life for the Moroccan people. Landmark projects like Noor, Africa's largest solar power plant, and the National Initiative for Human Development have been pivotal. Currently, the World Bank is financing 27 projects in Morocco, with a total investment exceeding $8 billion. 

The robust partnership between Morocco and the World Bank Group – one that is grounded in trust, open dialogue, and shared commitments — will continue to drive our work together to enhance the lives of the people in Morocco.