The World Bank to Provide Guarantees for Moroccan Development Projects
The World Bank, through its Multilateral Investment Guarantee Agency (MIGA), is set to secure international financing for Morocco by providing guarantees for various development projects. This initiative aims to help Moroccan companies and public institutions access private capital, aligning with the country’s New Development Model goals of sustainable growth.
MIGA has already supported significant projects in Morocco, such as the Mohammed VI Polytechnic University, with nearly €810 million in guarantees. The agency is now focusing on backing infrastructure projects like the expansion of the Tanger Med port complex.
During a recent visit to Morocco, MIGA’s Executive Vice President, Hiroshi Matano, discussed the agency’s commitment to assisting the country’s development objectives, particularly in sectors like education, healthcare, renewable energy, and transportation. The newly unveiled guarantee platform aims to attract investments in African markets, showcasing MIGA’s dedication to supporting developing nations like Morocco.
With ambitious goals to increase its guarantee issuance to $20 billion annually by 2030, MIGA is poised to make a significant impact on Morocco’s economic growth and sustainability efforts.
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