World Bank brings to $300 million funding to Morocco’s risk management system
The World Bank has added $100 million to an existing $200 million loan to help Morocco manage natural risks and hazards.
“Protecting the people and economy against natural hazard can save Morocco over US$800 million a year,” said Jesko Hentschel, World Bank Maghreb Country Director.
“Developing more resilience to the risk of natural disaster is a critical investment given Morocco’s exposure to climate-related risks. The financing will be used to continue the results-driven DRM program, with the aim of protecting the country’s most vulnerable populations.”
The funding will help Morocco’s institutional capacity for monitoring risks and evaluating post-disaster responses.
It is also designed to help turn an emergency fund for post-disaster response into a national resilience fund that currently co-finances more than 150 strategic investments to reduce climate-related risks, ranging from flood protection infrastructure to early warning systems, hazard mapping and capacity building.