The World Bank Group has renewed its Country Partnership Strategy (CPS) with the Government of Morocco, while announcing new projects in support of the country’s financial sector and rural water supply.

The new strategy, for fiscal years 2014 to 2017, aims to lend momentum to the Moroccan government’s key reform and development programs. The new CPS is built around three results areas: promoting competitive and inclusive growth, building a green and resilient future, and strengthening governance and institutions to improve service delivery to citizens.

Under the new partnership, the World Bank Group seeks to help accelerate growth to create employment, scale up innovative multi-sector approaches for the benefit of future generations, and improve private sector-led competitiveness and global integration. To support these objectives, the new CPS brings with it a broad array of financial and technical instruments and services, drawing on the strengths of the World Bank Group’s institutions, including its private sector arm, the International Finance Corporation (IFC).

The IFC will continue to focus on promoting private sector led growth, boosting investor confidence, and expanding access to finance to small and medium companies. Since 2011, IFC has stepped up its engagement in Morocco and has invested US $590 million to support private sector development in the country.

Rural water supply project

The World Bank also approved a US $158.6 million Rural Water Supply Project. The project will support Morocco’s efforts to provide underserved rural areas with access to safe and reliable drinking water. One of the primary methods will be to encourage a shift from standpipes to house connections, by offering pre-financing. The aim is to extend services to about 420 000 people in underserved areas of the targeted provinces.