Covid-19 : World Bank restructures a $275-million loan to Morocco

The World Bank announced Thursday that it will work with countries in the Middle East and North Africa (MENA) region to help them cope with the health emergency linked to the new coronavirus pandemic (Covid-19).

The World Bank will allocate funding to the MENA region, as well as «policy advice, and technical assistance to help countries cope with the urgent health needs of the pandemic and slow the spread of the disease», the group said in a press release.

Thus, for the Kingdom, the World Bank announces that it has «an emergency response to help Morocco cope with the effects of the COVID-19 pandemic».

To this end, it has restructured a loan of $ 275 million (about 2.8 billion dirhams) in support of development policies for disaster risk management, with a deferred drawdown option in the event of a catastrophe.

«The restructuring adds a health-related trigger to the operation to allow the immediate release of funding under the program to address emergency measures», it added.