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The International Monetary Fund (IMF) Executive Board has approved a second disbursement of $415 million to Morocco under the Resilience and Sustainability Facility.
«The authorities continue to demonstrate strong commitment to Morocco’s transition toward a greener economy», the IMF stated in a release issued Monday from Washington.
This additional funding brings the total disbursed under the program to approximately $747 million. Back in September 2023, the IMF’s Executive Board initially approved $1.3 billion in financing for Morocco through the Resilience and Sustainability Facility.
The IMF noted that this 18-month program is designed to support Morocco’s green economy transition while strengthening its resilience to natural disasters, particularly those driven by climate change. The funding will help Morocco address climate vulnerabilities, enhance resilience to climate risks, and take advantage of decarbonization opportunities. It will also improve Morocco’s preparedness for natural disasters and support sustainable development initiatives.
The Resilience and Sustainability Facility provides affordable, long-term financing to countries committed to reforms that mitigate risks to future balance of payments stability, especially in relation to climate change and pandemics.
