World Bank backs Morocco with $500 million to boost jobs, green growth

The World Bank has approved a $500 million financing package for Morocco, deepening support for job creation and green growth as the country pushes ahead with economic reforms. 

The funding comes as officials face rising pressure to address youth unemployment and bring more women into the workforce, while also strengthening Morocco’s position in renewable energy and manufacturing.

It reflects a wider shift by global lenders toward climate-focused financing, with Morocco drawing attention as one of Africa’s more active markets for clean energy investment. 

For policymakers in Rabat, the program fits into a broader plan to improve job prospects, support businesses and expand the role of private investment in the economy. 

The loan is the first in a planned series of three operations, aimed at delivering results across jobs, business activity and energy.

Focus on jobs, women and youth 

At the center of the program is an effort to expand employment opportunities.

Labor market initiatives are expected to reach more than 330,000 job seekers by 2029. 

Part of that effort includes increasing access to childcare, with plans to add over 40,000 places.

The expansion is expected to create about 1,200 jobs, many of them for women, while helping more mothers return to work.

Support for small businesses 

Small and medium-sized enterprises remain a key part of the strategy.

The reforms aim to improve access to financing through stronger credit guarantee systems and to help struggling firms recover through changes to insolvency rules. 

Authorities are also working to simplify investment procedures through Regional Investment Centers, cutting delays that have often slowed project approvals and discouraged private investors.

Clean energy and export growth 

The package also backs Morocco’s push to grow its renewable energy sector by easing regulatory barriers and encouraging private investment. 

At the same time, it supports energy efficiency services and the expansion of pharmaceutical exports, with officials targeting a sharp increase in overseas sales by 2029. 

By linking job creation with business reform and energy policy, the program is designed to address several challenges at once, including unemployment, low female participation and limited private investment. 

Further funding under the program is expected to build on these steps, supporting Morocco’s efforts to create jobs and strengthen long-term economic growth.