World Bank: US$150 million loan to support efforts towards Moroccan housing sector
The World Bank’s Board of Directors has approved a US$150 million loan to support the efforts of the Moroccan government in the process of reforming an enabling environment for the housing sector and significantly expanding the access of the urban poor to decent housing.
The Housing Sector Development Policy Loan (HSDPL) supports the implementation of the Government of Morocco policy reforms and programs in the housing sector. It seeks to contribute to the improvement of the overall functionality of the housing sector, reducing the current market distortions and enabling private sector companies to participate more fully in the production and commercialization of housing goods. At the same time, the new project will assist the Government with the definition and implementation of specific policies and programs targeted to the urban poor, and especially the slum-dwellers, that would continue to benefit from public subsidies.
The project aims also to increase access of low income households to more affordable and higher quality housing, through : i) expanding urban slum upgrading and social housing programs; ii) improving the efficiency of the residential rental market; and iii) expanding access of informal sector and low-income households to housing finance.