Financial Inclusion and Digital Economy DPL (WB-P168587)

  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 10, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Government of Morocco
The holder of the loan, grant, or other investment.
  • Finance
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 500.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jan 16, 2019

Disclosed by Bank Nov 15, 2018

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Project Description

The program objective is to (i) improve financial inclusion for Moroccan individuals and MSMEs; (ii) strengthen digital platforms; and (iii) enhance early stage equity financing for digital startups and entrepreneurs.

The proposed operation supports reform actions aimed at:

  1. enhancing financial inclusion for households and SMEs,
  2. promoting the development of inclusive digital platforms and digital infrastructure, and
  3. supporting digital entrepreneurship.

The proposed operation will:

  • Promote the diversification of financing sources for SMEs through extending the regulatory and institutional framework for participative, or Islamic, finance.
  • Advance credible solutions for smaller firms to access long-term finance in Morocco.
  • Improve financial infrastructure and credit reporting framework in Morocco.
  • Supports the development of digital platforms in Morocco with a focus on financial market infrastructures (FMIS) and mobile payments.
  • Promotes the expansion of inclusive access to digital infrastructure by encouraging competition between, and investment by, telecom operators.
  • Supports access to finance for entrepreneurs by providing pre-seed, angel/seed, and early VC financing for innovative SMEs. This operation is closely linked to ongoing advisory work in the financial, telecommunications, and social protection sectors.
Investment Description
  • World Bank (WB)
Contact Information

World Bank:
Djibrilla Adamou Issa
Lead Financial Sector Specialist

Kingdom of Morocco

Implementing Agencies:
Ministry of Economy and Finance
Nouaman El Aissami
Deputy Director, Department of Treasury and External Finance

Caisse Central de Garantie
Taoufiq Lahrach
Secretary General 


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