Morocco has called on the World Bank to expand financial guarantees, reduce investment risks and improve access to financing for small businesses, arguing that developing economies need greater access to private capital to support growth and job creation.
Speaking on behalf of eight countries at the 114th Development Committee meeting in Bangkok on October 15, Morocco urged the institution to accelerate efforts to mobilize private investment.
The group also includes Algeria, Tunisia, Libya, Ghana, Iran, Pakistan and Afghanistan.
Their proposals focused on strengthening risk-sharing mechanisms, developing domestic capital markets and improving financing opportunities for micro, small and medium-sized enterprises.
Morocco welcomed the World Bank’s efforts to attract private investment but called for faster implementation of its three-pillar development strategy.
The Kingdom also highlighted the economic potential of minerals and metals, while urging the Bank to adapt its financing tools to the needs of fragile economies and smaller states.
Beyond financing, Morocco called for stronger representation of developing countries in the World Bank’s decision-making bodies, arguing that their priorities should carry greater weight in the institution’s policies.
The meeting formed part of the World Bank and International Monetary Fund annual gatherings, held in Bangkok from October 12 to 18.
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