Funding of $415 million from the IMF will allow Morocco to strengthen its resilience to natural disasters, commit to a greener economy, and continue its efforts in favor of renewable energies. It is also a question of improving the preparation of authorities in the face of growing climate impacts.
Although it is not on the list of polluting countries, Morocco is resolutely committed to an ecological transition policy by strengthening renewable energies. And in this transformation, international support is essential.
This is how the board of directors of the International Monetary Fund (IMF) has just approved the disbursement of the second tranche of 18-month financing which should help the Kingdom strengthen itself in the face of natural disasters and promote financing sustainable development.
With a total amount of $1.3 billion, this financing, approved in September 2023 as part of the Resilience and Sustainability Facility, should help support Morocco’s transition to a greener economy and will contribute to strengthen its preparation and resilience in the face of natural disasters, particularly those linked to climate change.
It will also help strengthen Morocco’s resilience in the face of climatic hazards. The second tranche which has just been approved concerns an amount of $415 million. The Bretton Woods institution welcomes the continued and strong commitment of the Moroccan authorities to a transition to a greener economy.
This new financing brings the total disbursement under this program to approximately $747 million. It will also help to strengthen the preparation of Moroccan authorities in the face of natural disasters and to stimulate financing for sustainable development.
Note that the IMF’s Resilience and Sustainability Facility consists of affordable, long-term financing enabling countries engaged in reforms to reduce risks to the future stability of their balance of payments, particularly those linked to climate change. and pandemics.
Maryem Ouazzani / ECO Inspirations
Morocco
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