World Bank grants Morocco 500-mln-USD loan to expand social protection

RABAT, Dec. 21 (Xinhua) — The World Bank has approved a 500-million-U.S. dollar loan to Morocco to expand the country’s social protection system and boost its resilience against catastrophic events, Morocco’s official radio channel SRNT reported Thursday.

This new financing will support the government’s social reform program, which focuses primarily on the vulnerable populations who have been hit the hardest by shocks Morocco has experienced since the outbreak of COVID-19, including drought, inflation, and most recently, the September earthquake in Al Haouz province, the report said.

“Moroccans are showing great resilience, but to support them in this effort, the government will continue to expand health insurance coverage, promote greater access to affordable health care countrywide, strengthen governance in the health care sector, support the implementation of the direct social benefits program, and improve protection against climatic risks,” said Jesko Hentschel, country director for the Maghreb and Malta at the World Bank.

On Dec. 15, the World Bank approved a 300-million-dollar loan to support Morocco’s higher education reform program.

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