Le financement de l’habitat au Maroc

DISCUSSION PA-PER Report No. *UDD 32 LE FINANCEMENT DE L'HABITAT AU MIAROC (Housing Finance in Morocco) by Michel Chretien (Consultant ) June 1981 Water Supply and Urban Developmreilt Department Operations Policy Staff The World Bank ) Thi views presented here are those oL the atithor and they shcu:ld not Se ilterDreted as reflecting those of the World Bank or irs affi1iates. 'rhis Daper is circulated for the con-venience of spe-ialists irteLested in housing finance in it-s original Franch version and may be translated into English at a later date.  Mr. Michel Chretien is a French f inancial consultant currently based in Paris, France. His paper was originally prepared for the Urban Division of the Europe, Middle-East and North Africa Regional Office, the World Bank. In addition to Morocco, Mr. Chretien's experience in housing finance includes, Portugal, Senegal, the Ivory Coast, Mali and Cameroon.  ABSTRACT This report has been prepared by its author during a field mission in Morocco in June 1981. It is circulated now as a WUD Discussion paper bec,mtuse it provides a useful description of the structure of a national housing finance system. First, it presents a description of the major institutional structures for raising mobilization, Then, it describes the housing finance system and the flow of funds to the housing sector. It concludes on an examina- tion of some of the bottlenecks in financing housing and makes suggestions for possible improvements. A difference with the other WUD discussion papers on housing finance is that more attention is paid to the monetary and financial institutions and less to the real side of the housing sector. One of the objectives of the WUD discussion papers is to make easily accessible information on national housing finance systems which would otherwise remain inaccessible or unknown. This report is reproduced in its original language (French) in order to reduce circulation delays. In its present form it will be readily understood in countries where French is a working language. This report is circulated as a working document for informa- tion only. Its contents are not endorsei3 by the World Bank. The views presented here are those of the author, and they should not be inter- preted as reflecting those of the World Bank and its affiliates.  Plan de la Note 1. La Mobilisation de lJEpargne au Maroc,..,..........,........1 1i1 Le secteur bancaire....,...* ....,..... ...... 1 1.2 L'eepargne publique.............,..............,......2 1.3 L'epargne institutionnelle.......,,........,,..3 1,4 L'