$500 million World Bank loan to Morocco

The World Bank (WB) has just approved a $500 million loan to improve protection against health risks, childhood human capital losses, old-age poverty and climate change in Morocco.

This is the first in a series of three grants for a government reform program that is concurrently receiving support from other development partners, the Washington-based organization said in a statement.

Development Policy Financing for Building Human Capital and Resilience aims to strengthen the health system by broadening and deepening health insurance, especially for vulnerable people, increasing the number of health and adapting health care services to better respond to health risks associated with climate change, the World Bank said.

By focusing on climate-vulnerable populations, this financing will also make it possible to gradually generalize a system of adaptive family allowances for children, to expand the coverage of the pension system and to improve protection against climatic events. extremes, it was added.

This program will help Morocco generalize health insurance, roll out a crucial family allowance program and better protect the population against risks, including those caused by climate change, said Jesko Hentschel, Maghreb and Malta Country Director. for the World Bank, quoted in the press release.

The program is structured around three components. The first aims to help protect Moroccans, especially climate-vulnerable populations, from health risks with a focus on those caused by climate change. “These include extending the coverage of the compulsory health insurance scheme (AMO) to around 11 million individuals and their dependents and supporting the improved targeting of the medical assistance scheme (RAMED ),” said Jorge A. Coarasa, senior economist and project co-lead at the World Bank.

Second, this funding will also support the harmonization of all child-focused social protection schemes into an integrated program of child benefits, as well as the expansion of its coverage, improved targeting of child benefits and other schemes through a unified social register and the implementation of a new pension scheme for self-employed workers.

“Transforming a series of distinct schemes into an adaptive and climate-smart social protection system will help foster the development of human capital during childhood and better protect against the risk of poverty in old age,” underlined , for his part, Mahdi Barouni, senior economist and co-responsible for the project at the World Bank.

The third component aims to help the government strengthen the institutional and coordination framework for disaster and climate risk management, the development of new mechanisms to protect vulnerable farmers against droughts and other extreme climatic events, or the provision of to deal with the consequences of the late onset of rainfall during the 2021-2022 agricultural campaign.

.

Previous Post Next Post