Africa Press-Nigeria:<\/p>\n
The World Bank said it has granted Morocco a loan of US$150 million to support its Urban Transport Programme, the Moroccan official news agency, MAP, reported on Wednesday.<\/p>\n
\u201cThis new financing will support the Moroccan authorities in maintaining their momentum for reform and to develop enough, affordable transportation for the country\u2019s urban population,\u2019\u2019 MAP quoted Jesko Hentschel, World Bank country director for the Maghreb, as saying.<\/p>\n
In June, the World Bank granted Morocco a loan of US$500 million to support its key policy reforms.<\/p>\n
According to Morocco\u2019s central bank, the North African country\u2019s economy is expected to contract by 5.2 per cent in 2020 because of the repercussions of the COVID-19 pandemic, which will be its worst economic performance since 1996.<\/p>\n
Morocco\u2019s government debts will soar to 75.3 per cent of the GDP in 2020 from 65 per cent in 2019 because of the huge financial needs of the public treasury, the central bank noted.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Africa Press-Nigeria: The World Bank said it has granted Morocco a loan of US$150 million to support its Urban Transport Programme, the Moroccan official news agency, MAP, reported on Wednesday. \u201cThis new financing will support the Moroccan authorities in maintaining their momentum for reform and to develop enough, affordable transportation for the country\u2019s urban population,\u2019\u2019 […]<\/p>\n","protected":false},"author":62,"featured_media":25583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[580],"class_list":["post-32019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-world-bank"],"yoast_head":"\n