World Bank grants Morocco loans totaling $98 million
The World Bank and the Government of Morocco signed two loan agreements worth a total of $97.6 million this month. The financing, approved by the World Bank last May, will fund the Irrigation Based Community Development (IBCD) program and reforms in Morocco's Information Technology (IT) infrastructure.
The IBCD program seeks to improve the incomes and quality of life of rural communities in 15 provinces over a 13-year period, primarily through demand-driven, coordinated investments in small and medium scale irrigation and complementary community infrastructure, including rural roads, water supply/sanitation, electrification, health and education facilities.
The second loan aims to support the government's program of privatization and liberalization of the telecommunications sector, extend services and strengthen the regulatory environment. The financing will also assist the government in the formulation and implementation of a strategy for the use and development of information technologies and in devising a national strategy for the postal sector, including the financial services provided through the postal network, which will serve as a basis for further specific reforms.
In June 2000, the World Bank approved a $5.3 million-loan to Morocco for a legal and judicial development project. The project was part of the Moroccan government's comprehensive five-year justice system reform program. — (menareport.com)
© 2002 Mena Report (www.menareport.com)