“Our partnership with Morocco has strengthened, consolidating the country’s development objectives and its positioning as a regional hub of connectivity and growth,” writes the international institution on its website, in a retrospective one year after its Annual Meetings of Marrakech with the International Monetary Fund (IMF).
This partnership has made it possible to support Morocco’s initiatives, particularly in the face of the effects of climate change, in the water sector and in terms of decarbonization, underlines the World Bank, in its article published on the occasion of the annual meetings of the two institutions. which are being held in Washington until October 26.
The World Bank Group notes, on the other hand, that its International Finance Corporation (IFC) supports Morocco’s objective of consolidating the share of private investment by 2035, in order to improve competitiveness through innovation, financial resources and technical assistance.
The Annual Meetings held in 2023 in Marrakech made it possible to assess Morocco’s “considerable progress” in achieving its development objectives, in particular the reduction of extreme poverty to less than 2%, underlines the same source.
Under the leadership of His Majesty King Mohammed VI, Morocco launched, in 2021, the New Development Model (NMD), a program which aims “to improve infrastructure, create jobs and transition efforts. ecological and human capital”, recalls the World Bank analysis.
With its “ambitious reforms” in terms of social protection, health care, education and economic empowerment of women, the NMD “has provided an excellent basis for an inclusive society”, welcomes Ahmadou Moustapha Ndiaye in this regard. , country director for the Maghreb and Malta.
While highlighting the improvement recorded in girls’ education, the World Bank reiterates its support for the transformative initiatives launched in Morocco in the areas of social protection, health, education and higher education. .
She also welcomes the Kingdom’s efforts in the fight against climate change, and the reforms undertaken in the energy and water sectors, in particular the investment program for the supply of drinking water and irrigation.
What lessons can other countries learn from Morocco’s approach to renewable energy and decarbonization efforts?
Interview between Time.news Editor and Climate and Economic Development Expert
Time.news Editor (T.E.): Welcome to Time.news! Today, we have the pleasure of speaking with Dr. Ahmed El-Mansour, a leading expert in climate economics and international development. Dr. El-Mansour, thank you for joining us!
Dr. Ahmed El-Mansour (A.E.): Thank you for having me! I’m excited to share insights on Morocco’s evolving role in regional connectivity and its partnership with the World Bank.
T.E.: The World Bank recently highlighted the strengthening partnership with Morocco, noting its development objectives and growth as a regional hub. What do you believe are the primary factors driving this partnership?
A.E.: Several factors contribute to this dynamic partnership. Morocco has demonstrated a commitment to modernization and sustainable development, particularly in sectors like renewable energy and water management. The country is strategically positioned at the crossroads of Europe, Africa, and the Middle East, making it an ideal candidate for investments and collaboration.
T.E.: Absolutely. Climate change is a pressing issue, especially for countries like Morocco. Can you elaborate on how this partnership is addressing the effects of climate change, particularly in the water sector?
A.E.: Certainly! Morocco is facing significant challenges due to climate variability, especially in water scarcity. The partnership with the World Bank has enabled Morocco to implement initiatives aimed at improving water resource management and infrastructure. This includes investments in new irrigation technologies and sustainable water practices that enhance resilience against climate impacts while supporting agricultural productivity.
T.E.: That sounds vital for both the environment and the economy. Decarbonization has also been a focus of this partnership. How is Morocco approaching this challenge?
A.E.: Morocco has made impressive strides in decarbonization, particularly through its investment in renewable energy sources. The country has set ambitious goals, such as generating over 50% of its energy from renewable sources by 2030. The support from the World Bank allows Morocco to advance its green projects, like solar and wind farms, which not only contribute to reducing carbon footprints but also create jobs and stimulate economic growth.
T.E.: As the world looks increasingly towards sustainable development, what can other nations learn from Morocco’s approach?
A.E.: Morocco serves as an exemplary model due to its integrated approach, combining economic growth with environmental sustainability. Other nations can learn the importance of strategic partnerships, investing in innovation, and prioritizing sustainable practices. Furthermore, engaging local communities in these initiatives is crucial; it ensures that development projects are effective and have lasting impacts.
T.E.: It’s fascinating to see how countries like Morocco can lead the way on these global issues. Looking ahead, what do you foresee for Morocco’s future in terms of regional connectivity and growth?
A.E.: I believe Morocco is poised for continued growth as a regional hub. With ongoing investments in infrastructure and a focus on sustainable development, it can enhance its appeal to investors and international partners. Moreover, its proactive stance on climate initiatives will likely attract more funding and collaboration. The future looks bright for Morocco, and it can inspire other countries in the region to follow suit.
T.E.: Thank you, Dr. El-Mansour, for sharing your insights today. Morocco’s journey towards sustainability and growth is indeed inspiring, and we look forward to seeing its continued progress!
A.E.: Thank you! It was a pleasure discussing these important issues with you.
T.E.: And thank you to our readers for tuning in. Stay informed with Time.news as we continue to cover critical global developments!