World Bank loan for Morocco’s SMEs

The World Bank said it has approved US$150 million (RM669.95 million) in financing to support small enterprises in Morocco and improve social programmes in the North African country. The funds, approved on Friday, will help the government “modernise its national identification system and provide financing to promote innovative startups and job creation”, a statement said. According to the World Bank, almost 5.3 million Moroccans “live under the threat of falling back into poverty due to their conditions”.