Informed sources said that the Executive Board of the International Monetary Fund approved on Thursday a loan worth $1.3 billion to Morocco from the new Resilience and Sustainability Fund to strengthen the Kingdom’s ability to withstand climate-related disasters.
Morocco had requested money from the new fund, which was established by the International Monetary Fund in 2022, long before the devastating September 8th earthquake that struck the High Atlas Mountains, killing more than 2,900 people.
The Council’s approval comes a few weeks before Morocco hosts the annual meetings of the International Monetary Fund and World Bank in Marrakesh.
2023-09-28 18:17:35
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