70868
     The Kingdom of Morocco: National Initiative for Human Development 2 Program

                                 SUMMARY OF DISCUSSION

                               Meeting of the Executive Directors

                                           June 28, 2012


       The Executive Directors approved the National Initiative for Human Development 2
Program to the Kingdom of Morocco in the amount of EURO 227 million (US$ 300 million
equivalent) on the payment terms and conditions set out in the President’s Memorandum
(R2012-0129).

        Directors noted the commitment of the Moroccan Authorities to address social inequality
and urban-rural divide and the selection of ‘Program for Results’ instrument which incorporates
lessons learnt from phase 1 and is aligned with the Country Partnership Strategy and the Bank’s
MENA strategic directions presented in the Regional Update. They welcomed the increased
focus on delivering tangible outcomes for the youth, women and other vulnerable groups. In this
regard, Directors supported the indicators to measure the participation of such groups, and their
practical verification, in key sectors such as education, health and governance.

        Directors urged the Bank to build on donor harmonization to link all donor disbursements
to the same set of results and goals so as to maximize impact. Noting the substantial fiduciary
risk rating, Directors urged the Bank to work with the Moroccan authorities to develop lasting
mitigation measures beyond the program.





 This summary is not an approved record.