The World Bank has approved two loans totaling $650 million that will enable Morocco advance digital transformation and strengthen resilience against climate, disaster, and cyber risks.
The first loan valued at $250 million will support the national Digital Morocco 2030 strategy. It will help speed up the deployment and adoption of user-centric public digital services for citizens and businesses, prop up the government’s transition to cloud systems and foster financial & capacity-building for the startup ecosystem.
The WB funding also aims to boost AI innovation, support the digital transformation of micro, small, and medium enterprises (MSMEs), create jobs in the offshoring sector, and expand the digital talent pool.
The 2nd loan worth $400 million will strengthen Morocco’s financial resilience against climate, disaster, and cyber risks, and help unlock private capital for the country’s climate infrastructure development.
The WB financial support will also help Morocco develop cyber and disaster insurance instruments to expand risk transfer capacity; bolster institutional frameworks; reinforce digital payments infrastructure to accelerate the flow of finance after shocks and build the financial regulators’ capacity to oversee climate and cyber risks to banks and insurers.
“These two new loans programs address critical pillars of Morocco’s transformation priorities, a digitally empowered economy, a vibrant innovation ecosystem, and a financially resilient nation equipped to manage the climate, disaster, and cyber risks of a rapidly changing world,” said Ahmadou Moustapha Ndiaye, WB Director for the Maghreb.
“Together, these programs will support an integrated architecture for Morocco’s next decade — one that mobilizes private capital, creates jobs for youth and women, and advances the country’s climate commitments,” added the Mr. Ndiaye.
