World Bank Extends Morocco USD 200 Million-Loan For Transparency And Governance Development

The World Bank extended Morocco a loan of USD 200 million to support the country's policy to develop transparency and governance.

    The loan will support the completion of major rights and principles of governance contained in the constitution and will serve to consolidate transparency and governance, and increase citizens' commitment and access to information.

      The loan agreement was signed this Monday by Morocco's minister of economy and finance, Mohammed Boussaid, and head of the World Bank's department for the Maghreb, Simon Gray

    The Hakama (governance) program targets the consolidation of transparency and governance in the management of public resources and the promotion of governance through improving the financial control of public enterprises and institutions, improving access to information and modernizing the management of local finance.

    The two sides also signed a donation agreement, worth USD 4.55 million extended by the WB MENA transition fund to finance a program to support territorial councils.

    The goal of this program is to develop a sustainable program to give targeted local councils access to decentralized support services and inter-council cooperation institutionalization.