Morocco – Second Capital Market Development and Small and Medium-Size Enterprise Finance Development Policy Loan

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WASHINGTON, May 16, 2017 – The World Bank’s Board of Executive Directors today approved the following project:

Morocco – Second Capital Market Development and Small and Medium-Size Enterprise Finance Development Policy Loan

IBRD Loan: US$350 million

Loan Maturity: 25 years Grace period: 4.5 years

Project ID: P153603

Project Description: The program development objectives (PDO) are to: (a) improve access to finance for small and young enterprises; (b) strengthen capital markets by improving the institutional framework and broadening the range of instruments; (c) improve the financial sustainability of the Caisse Marocaine des Retraites (Mandatory Pension Fund for Civil and Military Services); and (d) strengthen the oversight of the banking sector.

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