WB lends Morocco $150 million for savings and pension system

The World Bank has granted Morocco a USD 150 Mln loan to support a project for the improvement of long-term savings and the pension system. The project is expected to improve savings allocations to productive private investments by reforming contractual savings institutions, including saving institutions and pension funds.

According to the World Bank, the project is based on two ingrediants for heightened growth in Morocco: a higher savings level and a greater efficiency of allocations, Map reported.