Moroccan central bank invests in World Bank green bond

Morocco’s central bank purchased 200 million euros of sustainable bonds from the World Bank as Morocco hosts the annual meetings of the IMF and the World Bank in Marrakech.

The EUR 100 million 3-year and EUR 100 million 5-year Sustainable Development Bond transactions will support the financing of the World Bank’s sustainable development activities, the World Bank said in a statement.

The World Bank will pay annual fixed rate coupons to Bank Al-Maghrib, it said.

“The transactions are an opportunity for Morocco, as the first host of the Annual Meetings on the African continent in 50 years, to raise awareness for the urgency of mainstreaming climate action in the region and across the continent,” the bank said in a statement.

The World Bank integrates climate action into its development financing efforts including resilient food systems, clean and renewable energy, and environmental and water security throughout its global portfolio, including African countries, it said.

The World Bank is also financing projects to proactively support countries to manage climate shocks while implementing urgently needed adaptation measures, it said.