{"id":79785,"date":"2023-10-02T01:47:23","date_gmt":"2023-10-02T01:47:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/imf-approves-usd-1-3-bn-climate-resilience-loan-for-morocco\/"},"modified":"2023-10-02T01:47:23","modified_gmt":"2023-10-02T01:47:23","slug":"imf-approves-usd-1-3-bn-climate-resilience-loan-for-morocco","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/imf-approves-usd-1-3-bn-climate-resilience-loan-for-morocco\/","title":{"rendered":"IMF approves USD 1.3 bn climate resilience loan for Morocco"},"content":{"rendered":"

<\/a> The IMF\u2019s Executive Board signed off on a USD 1.3 bn Resilience and <\/strong>Sustainability Facility (RSF) for Morocco<\/strong>, according to a statement<\/a> by the multilateral lender. The IMF had reached a staff-level agreement with Morocco last month<\/a> on the loan. The arrangement follows a separate USD 5 bn Flexible Credit Line arrangement approved (pdf)<\/a> in April 2023 in response to slowed growth and raised inflation due to severe drought<\/a> and spillovers from Russia\u2019s invasion of Ukraine.<\/p>\n

The details: <\/strong>The RSF arrangement will help Morocco \u201caddress climate vulnerabilities, bolster its resilience against climate change, and seize the opportunities from decarbonization,\u201d the statement said, adding that it will also help Morocco\u2019s government strengthen its preparedness for natural catastrophes while stimulating financing for sustainable development.<\/p>\n

What they said: <\/strong>\u201cClimate change represents a major risk to Morocco\u2019s development but also offers opportunities. Drought and water scarcity have become a major source of macroeconomic volatility, with particularly adverse impacts on agriculture, while the fallout from the recent earthquake points to the potential implications of natural disasters, including from climate change,\u201d IMF\u2019s Deputy Managing Director and Acting Chair Kenji Okamura said according to the statement.<\/p>\n

Morocco is a strategic partner in the global climate fight: <\/strong>\u201cMorocco is well-placed to reap the benefits of the global decarbonization agenda. Deploying this potential represents an opportunity for Morocco to put economic growth on a stronger and more resilient path,\u201d Okamura added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The IMF\u2019s Executive Board signed off on a USD 1.3 bn Resilience and Sustainability Facility (RSF) for Morocco, according to a statement by the multilateral lender. The IMF had reached a staff-level agreement with Morocco last month on the loan. The arrangement follows a separate USD 5 bn Flexible Credit Line arrangement approved (pdf) in […]<\/p>\n","protected":false},"author":1,"featured_media":79786,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[443],"tags":[1273,57,531,11,164,546,45],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-finance","tag-adaptation","tag-climate-change","tag-climate-finance","tag-enterpriseclimate","tag-green-finance","tag-imf","tag-morocco","wpautop","entry"],"acf":{"mongo_id":"e0307974-cf56-4008-b595-f1a954046051","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/650.jpg","photo_position":"above","related_issue":[79769],"teaser":"","voice_url":""},"yoast_head":"\nIMF approves USD 1.3 bn climate resilience loan for Morocco - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/02\/imf-approves-usd-1-3-bn-climate-resilience-loan-for-morocco\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMF approves USD 1.3 bn climate resilience loan for Morocco\" \/>\n<meta property=\"og:description\" content=\"The IMF\u2019s Executive Board signed off on a USD 1.3 bn Resilience and Sustainability Facility (RSF) for Morocco, according to a statement by the multilateral lender. 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