Morocco to receive an additional $400 million to boost financial inclusion | Atalayar

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Already in 2019, the Kingdom of Morocco received $700 million from the World Bank for “financing in support of policies for the development of financial inclusion and digital inclusion”. Now, four years later, the North African territory continues to work on improving finance and digitization, and their positive effects, through new initiatives.

Indeed, as stated in a report published in May 2022 (under the title “Digital advantages for countries in the Middle East and North Africa: the adoption of digital technologies can accelerate growth and create jobs “), more than 60% of the Moroccan population uses the internetwhile institutions across the country bring technology adoption figures to 67%.


In this sense, the good results of the revitalization and bringing new technologies closer to the entire population seemed to lead Rabat, in 2020, to launch a new plan for financing development policies in favor of digital and financial inclusion. . This project consists of three distinct phases, funded in three stages. The first consisted of an initial loan – from the World Bank – of 500 million dollars; the second, 450 million; and now, the third, recently negotiated, will involve a contribution of an additional 400 million to be received in March 2023.

A total financing of 1.35 billion dollars which, added to that of the 2019 project, will reach 2.05 billion dollars (more than 1.905 billion euros, nearly 21 billion Moroccan dirhams) mobilized by the Bretton Woods institutions (the World Bank and the International Monetary Fund, IMF) between 2019 and 2023, provided that the World Bank’s board of directors officially approves the latest figures, according to the Moroccan daily Le Matin.

PHOTO/ARCHIVE – Headquarters of the central bank of Morocco, Bank AI-Maghrib

To these contributions are added those of Banque AI-Maghrib (the central bank of Morocco) and the National Telecommunications Regulatory Agency (ANRT), as well as those of the public and private sectors, all with the aim of make technological inclusion and digital transformation a catalyst to boost the economy of the country and include particularly vulnerable populations in the digitalization process (such as rural communities, women and young people).

To do this, Rabat considers four fundamental axes: improve the financial inclusion of individuals, micro-enterprises and SMEs (small and medium-sized enterprises), diversify financial instruments and promote microfinance (to adapt to each population); support the development of digital finance platforms and infrastructure; and increase support for digital entrepreneurs. In this way, the project is presented as an initiative that should benefit households and businesses, including start-ups and young entrepreneurs.


The government of Rabat, with the connivance of the Alaouite monarch, King Mohammed VI, is moving forward with a project that should focus on digital financial services and household resilience, as well as on digital as a meeting point for technologically innovative companies and entrepreneurship in the digital world. In addition, the program also plans to boost and improve connectivity in rural and urban areas where it is not yet available.

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