World Bank Buys Morocco: $150 USD

World Bank approves $150M for Morocco

RABAT: The World Bank says it has approved $150 million in financing to support small enterprises in Morocco and improve social programs in the North African country.

The funds, approved on Friday, will help the government “modernize its national identification system and provide financing to promote innovative startups and job creation,” a statement said.

According to the World Bank, almost 5.3 million Moroccans “live under the threat of falling back into poverty due to their socio-economic conditions.”

Friday’s statement said that $100 million will “aim to develop systems to ensure that social programmes are better targeted and reach the most vulnerable Moroccans.”

The remaining $50 million “will help address a market gap in the supply of equity financing for innovative young small and medium enterprises,” it said.

https://www.dailystar.com.lb//News/Middle-East/2017/Mar-11/397141-world-bank-approves-150m-for-morocco.ashx

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s