
A World Bank loan package approved today targets poor rural and urban Moroccan communities for improved services and economic opportunities and promotes the development of smaller enterprises. A $300 million loan, underpinned by a comprehensive program to build local institutional capacity, will support the second phase of Morocco’s National Initiative for Human Development (INDH). A $50 million loan will facilitate access to finance for micro, small and medium enterprises (MSMEs). "INDH is the centerpiece of the government’s commitment to address social and economic exclusion in underserved areas," said Inger Andersen, World Bank Vice President for the Middle East and North Africa Region (MENA). "By supporting the second phase of this innovative program we stand proudly with the government in its drive towards greater results," she said. INDH2 finances income-generating activities, improved access to basic services and key infrastructure in the poorest regions of Morocco. Taking lessons from INDH1, launched in 2005, the government nearly doubled the geographic scope and increased the budget from $1.7 billion to $2.1 billion for phase 2. But it also raised the bar delivering tangible benefits. INDH2 is the first World Bank-supported project using the "Program for Results" (PforR), a new lending instrument which disburses funds based on the achievement of agreed and verified results.
GMT 05:55 2018 Tuesday ,23 January
US tax reforms send UBS profits plungingGMT 13:12 2018 Sunday ,21 January
CBB signs memorandum of understanding with DFSAGMT 04:49 2018 Saturday ,20 January
HSBC in $100 million forex fraud settlementGMT 14:14 2018 Wednesday ,17 January
Strong euro 'source of uncertainty' for ECBGMT 17:00 2018 Tuesday ,16 January
IMF 'concerned' by Kiev's plan for anti-corruption courtGMT 19:29 2018 Monday ,15 January
Central Bank issues commemorative coin for Dh189GMT 06:05 2018 Sunday ,14 January
Bitcoin shouldn't become the new Swiss bank accountGMT 21:23 2018 Wednesday ,10 January
BCCI elections committee holds second meeting

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor