Institutional Saving Developmt Programme


Project Summary

Approval Date 19 Nov 1997
Signature Date 28 May 1998
Planned Completion Date 31 Dec 1999
Last Disbursement Planned Date 31 Dec 2000
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 129,175,490.84
Status Completion

Project General Description

The Institutional Savings Development Program (PDEI) in Morocco is part of the strategy of deepening the financial sector reforms undertaken by the Moroccan authorities in the mid-1990s. The program comprises 36 measures divided among the four components of (i) restructuring of the insurance sector, (ii) launch of the pension reform, (iii) reframing the role of Caisse des Dépôts et de Gestion (CDG) and (iv) deepening the capital market. It is financed by the ADB and the World Bank for 130 MUC and 100 MUSD, respectively. The program has an important economic and social impact and should ultimately contribute to improving the living conditions of the population and reducing unemployment.

Project Objectives

The overall objective of the PDEI is to contribute to achieving a high and sustainable growth rate in the Moroccan economy in order to reduce unemployment and improve the living conditions of the population. Specifically, the PDEI aims to improve the structure of savings and its allocation to productive investment of the private sector through the restructuring of the insurance sector, the launch of the reform of pension systems and deepening the development of the capital market.

Beneficiaries

The program will benefit directly to the Government of the Kingdom of Morocco.

Participating Organization

Funding
African Development Bank
Implementing
Bank al Maghrib

Information

IATI identifier 46002-P-MA-H00-001
Last Update 31 Oct 2019

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Geographic Location

Country Morocco