Thematic project "Promoting economic development - economic inclusion"

active

In order to achieve the Moroccan goal of sustainable and inclusive economic growth, the existing structural inequalities, particularly with regard to the employment prospects and labor market participation of vulnerable groups such as young people and women, as well as with regard to access to social safety nets, must be reduced. To this end, Morocco has, among other things, initiated a comprehensive reform program for the entire area of social security, which includes the introduction of general health insurance, family benefits, unemployment benefits and pension insurance. This is where the FC thematic project comes in, which, through results-based financing, pursues the modular objective of improving the living conditions of the population through expanded and universal access to social security systems and to employment-promoting and target group-appropriate financing. The immediate target group of the thematic project is broad (vulnerable) sections of the population, but in particular young people, women and children, who benefit from improved social security. The financing includes a low-interest loan of EUR 120 million, which is backed up by an accompanying measure of EUR 100 million. 2 million euros. The borrower and project sponsor is the Kingdom of Morocco, represented by the Moroccan Ministry of Economy and Finance (Ministère de l'Economie et des Finances, MEF). Implementation is planned for the period from Q4/2023 to Q4/2026.