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World Bank Provides Additional Funding for Morocco’s Urban Transport Sector

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The World Bank Board of Executive Directors has today approved US$150 million in additional financing for Morocco’s Urban Transport Program, which started in 2015. The program works to strengthen the country’s capacity to offer quality service in public transport. It also supports local infrastructure for transport and investments.

The main purpose of the additional financing is to adapt the program to address new priorities of mobility — including those related to the impact of COVID-19 — and to scale it up. The program’s focus will be on getting a dedicated, central structure working to oversee the public transport sector, and on prioritizing local investments to boost the sector’s performance.

The COVID pandemic has highlighted that investing in safe, affordable and efficient public transport is more important today than ever to foster economic and social inclusion and to help mitigate climate change,” said Jesko Hentschel, World Bank Maghreb Country Director. “With this additional financing, we aim to support the Moroccan authorities in maintaining their momentum for reform, and to develop enough, affordable transport for the country’s urban population. The demand for urban mobility and reliable public transport is increasing in Morocco.

The program has already delivered tangible results, notably through the Urban Transport Fund’s role in financing investment priorities, and by improving the planning, performance, and inter-municipal coordination of urban transport. The investments supported by the Program have already benefitted 40,000 daily users of urban transports in terms of improved level of service. By program completion, the objective is to increase the total number of beneficiaries to 130,000 urban inhabitants per day.

The new tranche of funding will streamline governance by improving mechanisms for oversight. Greater focus will be given to advising local urban transport authorities in prioritizing sustainable services to meet local demand. Transport corridors, most in the form of Bus Rapid Transit, will be developed to improve citizen access to economic opportunities and social services.

The program aims to instill a new dynamic by mainstreaming standards of efficiency across urban transport institutions to increase the sector’s performance — this will include targeted investment. The anticipated results will be to strengthen national and local capacity to plan, implement, and monitor urban transport, and to improve its level of service,” said Nabil Samir, Transport Special and Task Team Leader.

The program is being implemented by the Ministry of Interior and, at the local level, by municipalities. With its closing date extended to June 2024, it builds on the government’s National Strategy for Urban Mobility, which was prepared with the support of the World Bank. Alongside lending, the World Bank has mobilized technical assistance to advise on key policies to improve the sector’s governance and develop affordable transport in Morocco’s main cities.

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Indonesian President Addresses Global Business Leaders at the WEF Special Dialogue

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Today, President Joko Widodo of Indonesia took part in a dialogue with global business leaders, hosted by Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

The dialogue focused on the need for deeper public-private cooperation – currently focused on helping manage the COVID-19 pandemic – as well as providing a boost to the country’s economic recovery. Indonesia is currently experiencing its first recession in 22 years, and like many nations, is in the midst of tackling the pandemic; the country surpassed half a million confirmed cases of the disease this week.

“I would like to express my appreciation to the World Economic Forum for hosting the Country Strategy Dialogue on Indonesia at such a pivotal time for our country and the world,” said President Joko Widodo. “The Government of Indonesia remains strongly committed to engaging in public-private partnerships that support the country’s path towards sustainable and resilient economic recovery.”

In his opening remarks, the president said that the enactment of the Omnibus Law will help improve Indonesia’s investment climate and legal certainty, adding that: “Significant support from the business community in its implementation is essential, as it will add value to the government’s efforts in handling the pandemic and supporting economic recovery in a balanced and synergetic manner.”

More than 50 global business leaders took part in an interactive virtual discussion, during which they listened and offered suggestions to the president and members of his cabinet, who laid out their plans for economic revival.

“Indonesia with its large population, is making impressive progress in fighting COVID-19, and at the same time is using this pandemic as a means to restructure, modernize and upgrade its economy,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

The president emphasized measures his government would be taking to manage the spread of COVID-19. The focus is on providing treatment and ultimately vaccinations for the population, while also cutting red tape to fast-track needed investment aimed at restoring Indonesia’s growth and securing its competitiveness post-pandemic.

Several important cabinet members, including Erick Thohir, Minister of State-Owned Enterprises and Retno L. P. Marsudi, Minister of Foreign Affairs, and Luhut B. Pandjaitan, Coordinating Minister for Maritime Affairs and Investment, took part in the dialogue. They presented details of the planned establishment of the country’s multibillion dollar sovereign wealth funds, implementation of the Job Creation Laws and planned investment incentives, as well as prioritizing environmental sustainability in recovery efforts, to ensure the country’s leadership in the area of green growth.

Global chief executive officers responded by presenting their plans for further investment and offered suggestions for collaboration.

James Quincey, Chairman and Chief Executive Officer of The Coca-Cola Company said: “I appreciate the government’s efforts to encourage investment, maintain sustainability at the centre of their rebuilding efforts and clearly communicate their ambition to work together with different stakeholders to create new and innovative ways to foster growth.”

The Government of Indonesia and the World Economic Forum have agreed to continue the dialogue aimed at developing multistakeholder solutions in areas such as mainstreaming low-carbon investments, supporting Micro Small and Medium-sized Enterprises (MSME) through reskilling and upskilling, and building long-term resilience for the country’s travel and tourism sector.

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Pakistan PM Khan Speaks with Global CEOs on Strategic Priorities in Post-Pandemic Era

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The World Economic Forum today hosted a “Special Dialogue with Prime Minister Imran Khan” for its members and partners, chaired by Forum President Børge Brende. The session gave chief executives from across the world an opportunity to hear directly from the prime minister on the factors behind Pakistan’s resilience to the economic shocks of the pandemic and his country’s post-COVID-19 recovery strategy.

In the virtual session, Khan explained the policy priorities of the Government of Pakistan, including regional connectivity projects like the China-Pakistan Economic Corridor (CPEC), and progress on talks to improve trade flows between Afghanistan and Pakistan following his visit last week to the Afghan capital. Khan also responded to questions from chief executives on promoting a digital economy in Pakistan and improving the enabling environment for long-term investors.

“My aim is for Pakistan’s economy to emerge greener, fairer and stronger from the pandemic. It is crucial for us to work with the international business community and partners like the World Economic Forum to share the important reforms underway here and help global businesses participate in the emerging opportunities in Pakistan,” said Imran Khan, Prime Minister of Pakistan.

“Pakistan’s economy has shown remarkable resilience to the pandemic, placing it in a strong position to rebound quickly from the shock. The Forum convened this dialogue with Prime Minister Khan for global business leaders to discuss the country’s economic response in greater detail and to understand where they could contribute to Pakistan’s ambitious recovery strategy,” said Børge Brende, President, World Economic Forum.

More than 70 members and partners of the World Economic Forum from around the world participated in the virtual session.

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Global leaders to shape the Davos Agenda ahead of ‘crucial year to rebuild trust’

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The Davos Agenda is a pioneering mobilization of global leaders to rebuild trust to shape the principles, policies and partnerships needed in 2021. The virtual meeting will build momentum ahead of the Special Annual Meeting in the spring. The Davos Agenda will feature a full week of global programming on 25-29 January 2021 with the active participation of heads of state, CEOs, civil society leaders, global media and youth leaders from Asia, Europe, Africa, the Middle East, North America and Latin America.

“2021 is a crucial year to rebuild trust,” said Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. “The world is at a crossroads. The pandemic has reversed important gains in the global fight against unemployment, climate change and poverty. Leaders must come together for decisive and inclusive action.

Building a better future for work, accelerating stakeholder capitalism, and harnessing the technologies of the Fourth Industrial Revolution will be important topics on the Davos Agenda.

The five programme themes are:

– Designing cohesive, sustainable, resilient economic systems (25 January)

– Driving responsible industry transformation and growth (26 January)

– Enhancing stewardship of our global commons (27 January)

– Harnessing the technologies of the Fourth Industrial Revolution (28 January)

– Advancing global and regional cooperation (29 January)

Heads of state and of government and international organizations will give special addresses on the state of the world, as well as engaging in dialogue with business leaders. Industry leaders and public figures will discuss how to advance and accelerate public-private collaboration on critical issues such as COVID-19 vaccination, job creation and climate change, among others. The Forum’s core communities, including its International Business Council, will share their insight and recommendations from global, regional and industry initiatives in impact sessions.

The high-level agenda-setting dialogues that characterize the Forum’s January meeting will take place throughout the week and will be live streamed – providing more opportunities for the public to engage. Sessions will take place across Beijing, Geneva, New York, San Francisco and Tokyo time zones to ensure global participation.

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