Morocco, WB agree on USD 275m natural disaster fund

Morocco and the World Bank have inked a deal to establish a natural disaster fund supported by a loan worth USD 275 million provided by the institution, Morocco World News (MWN) reported. 

Morocco's economy minister Mohamed Benchaaboun commented that the agreement would help the country boost its intervention strategies in case of catastrophic events. The funding is part of the World Bank's efforts to support Rabat in dealing with risks linked to natural disasters given climate change.

Critical natural disasters are not common in Morocco. In 2019, several fatal incidents took place, including flooding caused by heavy rainstorms hitting a southern province of the country, MWN noted.

Sign in and read the full article in emis.com, and find out more about EMIS.