Nadia Fettah Highlights ‘Exceptional Partnership’ with the WB in Washington, D.C

Tuesday in Washington, D.C., Economy and Finance Minister Nadia Fettah met with the World Bank (WB) Group President David Malpas and a number of its directors to discuss the "exceptional partnership" between the WB and Morocco.

According to Nadia Fettah, who emphasized the “extraordinary collaboration” between Morocco and the WB, “we have achieved practically a record level in 2022 with close to 1.8 billion dollars, but beyond the quantity, what counts is that this partnership embraces all key initiatives and reforms in our country.”

The minister claimed that the financial institution has a “very good understanding” of the steps taken by the Kingdom to manage the consequences of numerous crises as well as to keep up the pace and effort of significant reforms, particularly in relation to social protection, the transition to clean energy, and investment.

“All of the World Bank’s executives confirmed that they are very happy with this partnership, because they can see its impact on the country’s economy and development as well as on the Moroccan citizen,” Nadia Fettah said.

The World Bank wants to advance alongside our nation and turn it into a role model for middle-income nations seeking greater growth and development, she added.

In reference to the World Bank and International Monetary Fund (IMF) Annual Meetings slated to take place in Marrakech in October 2023, the Minister stated that his discussions in Washington reviewed the preparations for this significant gathering of the banking and financial industries.

She said that the World Bank “itself is inquiring for a mission and a revitalized vision” and that “it is a matter of taking stock of the logistical preparations obviously but also on the major topics to be tackled in Marrakech.”

“We will have a lot of inputs at the global level” before these meetings in Morocco, continued Fettah, “so that the important decision makers of this globe agree on a greater role for the World Bank.”

On the same topic, the Moroccan representative said that it was crucial to rally everyone to make these meetings a big deal and to celebrate their return to Africa after a 50-year absence.

To emphasize the worldwide nature of the two institutions, the annual meetings of the World Bank Group and the IMF alternate between Washington, D.C., and every three years, a member nation other than the United States. In 1973, Nairobi, Kenya, hosted the final gathering in Africa.

To address global concerns including financial stability, the effects of climate change, and the efficacy of development aid, the gatherings bring together central bank governors, finance ministers, academics, business executives, legislators, and journalists for a week.

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