Morocco upholds digital transformation initiatives to promote economic development

The World Bank’s Board of Directors endorsed the disbursement of US$500 million to help Morocco accelerate its digital and financial inclusion strategy. The fund aims to enable businesses and households to access more competitive digital infrastructure and services while stimulating the private sector growth by facilitating access to finance for start-ups and young entrepreneurs. The Moroccan Minister of Digital Economy Moulay Hafid Elalamy expressed the aspirations of the government promoting Morocco as a regional and continental digital hub. This further includes attracting US$1.04 billion in Foreign Direct Investments (FDI) and creating more than 120,000 direct and indirect jobs across the country through optimising digital technology.