World Bank doubles financial support for Morocco

18 February 2010

The World Bank announced last Tuesday in Rabat that its allocation to Morocco is going to increase from 300 to 600 million Dollars per year as from 2010.

This financing forms part of the strategic partnership framework (SPF) which, as Shamshad Akhtar,WB Vice-President for the Middle East and North Africa, explained “will ensure the continuity of support for Morocco but also open up new opportunities for operations for the Bank.”

This involves other opportunities in the sector of infrastructures, particularly with regard to renewable sources of energy.

Morocco is in fact a leader in the field of solar energy, a commitment acknowledged by French Secretary of State for Foreign Trade, Anne-Marie Idrac, during her visit to the Kingdom on 16 February.

“The Moroccan plan for solar energy is a plan which we are setting on a footing with the priority for solar energy which the French Republic is seeking to institute for the Mediterranean Union”, she stated in an interview published in the daily L’Economiste.

Category: Energy