RABAT, Dec. 14 (Xinhua) -- The World Bank has approved a loan of 172 million Euros (202.6 million U.S. dollars) to improve the urban management of Morocco's largest city of Casablanca, local media reported Thursday.
The loan will help fund the Greater Casablanca Development Plan 2015-2020, which aims to boost the city's economic attractiveness and competitiveness, the financial news website Medias24.com reported.
The objective of the World Bank's support is to increase the city's investment capacity by improving Casablanca's revenue management systems, and attracting private investment in urban infrastructure and services through public-private partnerships.
The program will also support reforms aiming to promote an environment conducive to business development by automating business procedures, increasing administrative transparency and reducing delays to obtain authorizations such as building permits and business licenses.
Marie Francoise Marie-Nelly, World Bank's country director for the Maghreb and Malta, Middle East and North Africa, hailed Casablanca's ambition "to enhance its role as the main driver of the country's economy."
With the regionalization agenda, Casablanca will prioritize its efforts to respond to citizens' demands for more efficient urban services, Marie-Nelly said.
"Strengthening the municipality, both financially and institutionally, and helping it reduce intra-city disparities are key to allow it to fulfill its service provision mandate while being accountable to the city dwellers," she added.
Boasting around 12 percent of Morocco's total population and contributing 20 percent of the national GDP, Casablanca is faced with mounting urban management challenges.
