The World Bank has approved a $500 million program to support Morocco's efforts to create more and better jobs while promoting a green economy. This financing is the first in a series of three operations planned under the new Morocco Green and Resilient Inclusive Development Policy Financing program.
The program aims to help Morocco implement reforms in three key areas: improving the business climate for private sector job creation, strengthening the governance of state-owned enterprises, and enhancing resilience to climate change. The World Bank stated that these reforms are crucial for accelerating Morocco's green economic transition and creating sustainable employment opportunities.
This development policy financing is designed to support the Moroccan government's broader reform agenda, which includes promoting renewable energy, sustainable water management, and social protection systems. The World Bank's support is aligned with Morocco's New Development Model and its commitments under the Paris Agreement on climate change.
