Sunday 3 December 2023

IMF backs Morocco's sustainability initiatives

IMF approves $1.3bn ‘sustainability’ fund for Morocco

WASHINGTON, September 29, 2023

The Executive Board of the International Monetary Fund (IMF) has approved an 18-month arrangement for Morocco under the Resilience and Sustainability Facility (RSF) in an amount equivalent to SDR 1 billion (about $1.32 billion, equivalent to 112% of quota).

The RSF arrangement will help Morocco address climate vulnerabilities, bolster its resilience against climate change, and seize the opportunities from decarbonisation.

It would also help the Moroccan authorities strengthen preparedness for natural catastrophes and stimulate financing for sustainable development.

The arrangement would coincide with the remaining 18 months under the FCL arrangement approved in April 2023. – TradeArabia News Service








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