MOROCCO, March 29 - The loan agreement and the guarantee agreement relating to the additional financing of the Support Program to the Commune of Casablanca which is financed by the World Bank (WB), were signed, on Tuesday in Rabat, for an amount of 94.7 million euros (M€), the Ministry of Economy and Finance said.

This legal documentation was signed at a ceremony chaired by Minister of Economy and Finance, Nadia Fettah, alongside the Country Director at the Regional Office of the Maghreb, Middle East and North Africa Department at the WB, Jesko Hentschel, and the president of the commune of Casablanca, Nabila Rmili, said the ministry in a statement.

On this occasion, Fettah welcomed the quality and diversity of cooperation relations between Morocco and the World Bank Group, praising, in this regard, the support provided by the Bank to the reforms undertaken by the Kingdom, especially in the field of territorial development.

In this context, the Minister stressed that the additional financing granted by the World Bank aims to increase the investment capacity of the commune of Casablanca, to strengthen the resilience of the city of Casablanca to the effects of climate change and improve access to basic services in the program area.

For her part, Rmili thanked the World Bank for its support to the structuring projects launched in the city of Casablanca, stressing that the additional financing granted to the Commune will allow to broaden the scope of the reforms undertaken and to further strengthen the city's resource mobilization capacities.

MAP:  29 March 2023