Morocco’s social protection measures will be bolstered owing to a $350 million loan, as an additional financing (A.F.), authorized by the World Bank’s Board of Directors, said World Bank’s (W.B.) Release.
The extra funding will supplement the current $400 million program approved in 2020.
This A.F. is designed to enhance assistance for the Government of Morocco’s existing cash handout programs and to administer the new non-contributory health insurance policy for low-income and at-risk households.
It also includes a component to improve the distribution system by which social assistance programs benefit vulnerable populations, particularly with respect to individuals with disabilities.
The World Bank’s Country Director for Maghreb and Malta, Jesko Hentschel, stressed, “This Additional Financing supports the operationalization of key parts of the Kingdom’s social protection reform, paving the way for a modern social protection system to make growth more inclusive.”
The W.B. praised Morocco’s success in executing a comprehensive social protection reform program, noting that the first round of assistance was critical in supporting the government’s approach to addressing COVID-related economic difficulties.