{"id":85079,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/01\/moroccos-climate-resilience-program-gets-a-boost-from-the-opec-fund\/"},"modified":"2024-07-01T00:00:00","modified_gmt":"2024-07-01T00:00:00","slug":"moroccos-climate-resilience-program-gets-a-boost-from-the-opec-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/01\/moroccos-climate-resilience-program-gets-a-boost-from-the-opec-fund\/","title":{"rendered":"Morocco\u2019s climate resilience program gets a boost from the Opec Fund"},"content":{"rendered":"

The Opec Fund<\/strong> for International Development approved USD 605 mn in development <\/strong>financing, <\/strong>USD 100 mn of which will go to Morocco\u2019s climate resilience program, according to a press release<\/a>. The money is broadly being allocated for financing global food security, climate action, and essential infrastructure initiatives, with USD 3 mn earmarked for the development of the Opec Fund Food Security and Climate Adaptation Facility.<\/p>\n

More about Morocco\u2019s program: <\/strong>The USD 100 mn loan will be used to co-finance the first phase of the Economic Governance and Climate Change Resilience Support Program. The program aims to \u201cincrease competitiveness and strengthen resilience, including to climate change,\u201d the statement said. <\/p>\n

The fund has been active in the region: <\/strong>The Opec Fund and the Arab Coordination Group \u2014 an alliance of regional development funds \u2014 committed to channeling at least USD 24 bn<\/a> in climate financing by the end of the decade at COP27. The Fund will also provide Acwa Power with a USD 14.6 mn<\/a> \u2014 as part of a financing package from the European Bank for Reconstruction and Development, the African Development Bank, the Green Climate Fund, the Sustainable Energy Fund for Africa, and the Arab Bank \u2014 for its 200 MW Kom Ombo solar project in Egypt\u2019s Aswan. <\/p>\n","protected":false},"excerpt":{"rendered":"

USD 100 mn will go to the kingdom\u2019s climate resilience efforts<\/p>\n","protected":false},"author":1,"featured_media":85080,"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":[243],"tags":[11,164,45,451],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-finance","tag-enterpriseclimate","tag-green-finance","tag-morocco","tag-opec-fund","wpautop","entry"],"acf":{"mongo_id":"47d7e67a-8e0b-4616-993f-14ec1dfb2a31","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2595.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Morocco\u2019s climate resilience program gets a boost from the Opec Fund","related_issue":[85061],"teaser":"USD 100 mn will go to the kingdom\u2019s climate resilience efforts","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.1a7a69c5-403d-4d7c-8728-bd9d4d8fc986.mp3"},"yoast_head":"\nMorocco\u2019s climate resilience program gets a boost from the Opec Fund - 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