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.