Climate Resilience: IMF supports Morocco’s efforts with $415 Mln funding

The International Monetary Fund (IMF) has approved $415 million to support Morocco’s efforts to mitigate the negative impacts of climate change on its economic growth.

Morocco continues to make progress in bolstering its resilience against climate change and seizing the opportunities from decarbonization, under the Resilience and Sustainability Facility (RSF), said the Fund in a press release.

The significant investments made by Morocco in water infrastructure to address water scarcity need to be complemented by management reforms, said the IMF, stressing the need to continue progress toward liberalizing the electricity markets in order to boost private sector participation in renewable energies

This will not only help Morocco achieve its Nationally Determined Contributions (NDC) targets but would also reduce its reliance on imported fuels, improve firms’ competitiveness, and help create jobs, said the IMF, affirming that Morocco remains committed to green transition.