Morocco, World Bank Sign Agreement to Strengthen Human Capital

A woman walks past shops in the ancient Moroccan city of Fez on June 8, 2022. (AFP)
A woman walks past shops in the ancient Moroccan city of Fez on June 8, 2022. (AFP)
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Morocco, World Bank Sign Agreement to Strengthen Human Capital

A woman walks past shops in the ancient Moroccan city of Fez on June 8, 2022. (AFP)
A woman walks past shops in the ancient Moroccan city of Fez on June 8, 2022. (AFP)

The World Bank approved last week $500 million to help strengthen human capital and resilience in Morocco.

Minister Delegate in charge of the Budget Fouzi Lekjaa and World Bank Director of Operations for the Maghreb and Malta Jesko Hentschel signed the agreement on Monday, which represents the first tranche of the approved loan.

This budget support program seeks improvements in the protection against health risks, human capital losses during childhood, poverty in old age, and climate change risks, the bank stated.

Lekjaa said in press statements on this occasion that the agreement will enable the kingdom to undertake reforms launched by King Mohammed VI.

He said that the bank’s support indicates that this large and credible reform gives legitimacy to government action to make this challenge a success by 2025 and ensure providing the conditions of a dignified life for all Moroccans.

Hentschel, for his part, stressed that the bank considers the reform of social protection in the Kingdom “very innovative, ambitious and integrated.”

The proposed financing is based on three pillars, the first of which includes measures to bolster physical and human resources to improve health services for all beneficiaries, enroll up to 11 million self-employed workers and their dependents and integrate up to 11 million people currently enrolled in Medical Assistance Scheme into the compulsory health insurance.

The second pillar includes measures to implement the family allowance program and expand coverage of pension plans.

It provides for adopting decrees and other legislation to ensure proper governance, identification and targeting of health and social protection reforms.

The third pillar focuses on improving resilience to natural disasters and climate risks, including strengthening institutional and coordination framework for disaster and climate risk management, establishing coordination committees of key stakeholders, and improving risk transfer mechanisms such as agricultural insurance.



Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
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Saudi Mineral Resources Minister, US Energy Secretary Discuss Strengthening Strategic Cooperation 

The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)
The Saudi and American delegations meet at the Ministry of Industry and Mineral Resources on Sunday. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef held official talks on Sunday with US Secretary of Energy Chris Wright as part of his current visit to the Kingdom.

The talks at the ministry headquarters in Riyadh focused on strengthening the strategic relationship between Saudi Arabia and the US in the mining and minerals sector.

They explored ways to expand cooperation in the mining sector and emphasized the importance of minerals in the energy transition, advanced technology industries, and modern economies linked to clean energy, as well as their significance in the electric vehicle industry and its components.

The two sides discussed ways to boost economic cooperation and high-value investment opportunities in both countries and the enablers available to leverage these opportunities in support of deepening their longstanding partnership.

Alkhorayef invited the US energy secretary to attend the Future Minerals Forum, which will be held in Riyadh next year.

Wright later visited the King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran. He was welcomed by Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, KFUPM President Muhammad Al-Saggaf, and senior university officials.

Wright was briefed on the university's academic and research specializations, as well as its efforts to foster innovation and develop human capital in the fields of energy, engineering, and science. He met with faculty members and students and learned about the university's initiatives to advance educational and research programs in line with the highest international standards.

He was introduced to KFUPM’s international collaboration and academic exchange programs, particularly those with leading US institutions, which are designed to foster knowledge sharing, encourage joint learning, and provide students with global exposure that enhances both their academic growth and career prospects.

This visit underscores KFUPM’s role as a leading academic and research institution in the energy sector and strengthens research and academic cooperation between Saudi Arabia and the US.