Morocco’s resilience to climate change and its relations with the IMF

HIBAPRESS-RABAT

Morocco was one of the only countries in the region to obtain a flexible credit line from the International Monetary Fund worth $5 billion last year, intended to protect against crises. Last September, Morocco also secured $1.3 billion in funding under the Resilience and Sustainability Facility.

This funding aims to strengthen the Kingdom’s resilience to climate change. The loan is disbursed in exchange for several measures taken by Morocco. Meetings take place every three months with Fund experts to implement the reforms necessary to adapt to climate fluctuations, according to a work plan and a precise timetable.

According to Nadia Fettah, the two agreements concluded with the IMF have an impact on all of the country’s financial partners, in addition to improving the credit rating and therefore access to international financial markets at a reasonable cost. This will make it possible to finance all projects scheduled between now and 2030.