OPEC Fund Lends Morocco $100 Mln for Climate Resilience Efforts

The OPEC Fund for International Development (the OPEC Fund) approved on Wednesday a $ 100 million loan to Morocco to enable the country to co-finance the first phase of the “Economic Governance & Climate Change Resilience Support Program”.

To counter global economic and climate change challenges, the Moroccan government has set an ambitious program destined to strengthen the country’s inclusive sustainable development, modernize the country’s economy, enhance its competitiveness and speed up its green transition.
The OPEC Fund works in cooperation with partner developing countries and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world.

The OPEC Fund was established in 1976. It focuses on financing projects that meet essential needs, such as food, energy, infrastructure, clean water and sanitation, healthcare, and education.

To date, the OPEC Fund has committed about $27 billion to development projects in over 125 countries with an estimated total project cost of more than $200 billion.