The OPEC Fund for International Development has agreed to extend Morocco $150 million to help finance a major new dam designed to improve water security and climate resilience by reducing flood risks and supporting sustainable agriculture.
The OPEC fund financial support to Morocco is part of $645 million approved by the Fund to strengthen infrastructure and drive economic reforms across more than a dozen countries.
“These investments address essential foundations of sustainable development: reliable water and energy, resilient infrastructure, effective economic institutions and access to finance,” fund president Abdulhamid Alkhalifa said in a statement.
The fund helps partner countries overcome immediate constraints while creating the conditions for greater opportunity and long-term resilience, he said.
Founded by the Organization of the Petroleum Exporting Countries, the facility finances projects in non-OPEC nations. The Fund supports projects that meet basic needs – such as food, energy, clean water and sanitation, healthcare and education – with the aim of encouraging self-reliance and inspiring hope for the future.
