02 | OPERATIONS – OTHER FUNDING
small and medium-sized enterprises will be increased by broadening ac- cess to financial and digital products and services, such as micro-finance and micro-insurance. Several corporate law and e-procurement reforms are intended to foster digital entrepreneurship. Morocco is well-positioned to boost its digital economy. Mobile network coverage is an important target within Sustainable Development Goal 9 – Industry, Innovation and Infrastructure, and the country already has a 99 percent broadband connectivity rate. However, in Morocco’s present digital economy, there is not much room for e-payments, universal bidding processes, or a digital ID
system. Reforming corporate law and the regulatory framework is critical to making the environment right for start-ups, self-employed entrepreneurs, cooperatives and other businesses to flourish. Specifically, the program aims to ensure 100 percent of all bidding doc- uments are submitted electronically, small businesses are properly repre- sented in procurement awards and a quota of private equity investments are made in women-led start-ups. By the end of 2023, the country aims to have one million micro-insurance contracts issued — more than doubling the rate prior to COVID-19 — to ensure the most vulnerable small businesses will be able to weather future storms.
This program is important in re-engaging with the Kingdom of Morocco. In particular, the program is part of a wider ef- fort to build back stronger af- ter the global pandemic. Dig- ital and financial inclusion is absolutely critical in delivering much-needed services and assistance to vulnerable and rural people living in Morocco.
FATMA ELSHHATI Country Manager, MENA, Eastern Europe & Central Asia, Public Sector Operations, OPEC Fund
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