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Morocco secures $600 million in World Bank funding for human capital initiative

The World Bank has approved a substantial $600 million to support the final phase of Morocco's human capital development program, aimed at enhancing national resilience and social welfare. This funding initiative focuses on four critical areas: strengthening resilience to health risks, improving......

World Bank backs Morocco’s FIFA 2030 World Cup preparations

The World Bank has reaffirmed its commitment to supporting Morocco in its preparations for hosting the 2030 FIFA World Cup. Ousmane Dione, the institution’s vice president for the Middle East and North Africa, made this declaration during a meeting on Wednesday with Fouzi Lekjaa, Morocco’s......

Morocco's startup journey: challenges and the road ahead

A decade after hosting the Global Entrepreneurship Summit in Marrakech, Morocco’s entrepreneurial ecosystem has made strides in funding and support. Yet, the anticipated surge of high-growth startups capable of reshaping the national economy remains elusive. In 2014, the summit marked a pivotal......

Morocco's planning commission and World Bank forge data partnership to enhance policy development

The High Commissioner for Planning (HCP) of Morocco, Chakib Benmoussa, and the World Bank Country Director for Maghreb and Malta, Ahmadou Moustapha Ndiaye, signed a cooperation agreement in Rabat on Tuesday. This partnership aims to strengthen capabilities and facilitate the exchange of experience and......

Aziz Akhannouch strengthens ties with World Bank’s MENA vice president

On Monday in Rabat, Moroccan Prime Minister Aziz Akhannouch met with Ousmane Dione, Vice President of the World Bank for the Middle East and North Africa (MENA) region. Their discussions focused on strengthening the strategic partnership between Morocco and the World Bank Group, with the goal of enhancing......

Moroccan diaspora's economic impact soars with $11.7 billion in remittances

Remittances from Morocco's diaspora reached MAD 117.7 billion ($11.7 billion) in 2024, marking a 2.1% increase from the previous year's MAD 115.26 billion ($11.4 billion), according to data from the Moroccan Exchange Office. The significant financial inflow maintains Morocco's position as......

Moderate global growth predicted for 2025-2026 amid economic challenges

According to a report released on Thursday by the World Bank, global economic growth is projected to be moderate in 2025 and 2026, with an expected growth rate of 2.7%. This aligns with the anticipated growth for 2024. Additionally, emerging economies are expected to experience a 4% growth rate during......

African trade integration emerges as key driver for continental prosperity

African nations are poised for significant economic transformation through the African Continental Free Trade Area (AfCFTA), with projections showing a potential 7% increase in continental GDP by 2045, equivalent to $450 billion in growth. The initiative aims to create a unified market across 54 states......

Morocco's Business Landscape Faces Critical Challenge as 40,000 Companies Face Closure in 2024

The Moroccan business sector is experiencing significant turbulence as an estimated 40,000 businesses are expected to close their doors by the end of 2024, according to recent reports from the Moroccan Confederation of SMEs (CMTPME). This dramatic increase in business closures highlights the ongoing......