Morocco - Financial Stability and Inclusion Strengthening Support Programme

The Financial Stability and Inclusion Reinforcement Support Program (PARSIF) is a budget support for the implementation of reforms to enhance the stability and inclusiveness of the Moroccan financial sector. As part of the structural reforms initiated over the last twenty years and supported by several programs of the Bank (PASFI and PADESFI), PARSIF intends to consolidate and deepen the major achievements of these programs by incorporating new priorities, in particular, servicing the retirement sector, improving the living conditions of retirees, and improving access to finance for a small group of farmers. The Program is designed around two main pillars. The first one aims at strengthening the resilience and role of the insurance and retirement sector in improving the populations’ quality of life. The second one is to strengthen the stability and the role of the banking sector and the capital markets in improving of the population’s quality of life. The program, which will be implemented over one year, will provide the Government with the financial resources needed to implement its policy and continue its reform efforts in a context of budget deficit.