The IMF grants Morocco 496 million dollars to address the impacts of climate change.
Morocco has secured a financing of 496 million dollars from the International Monetary Fund (IMF) to strengthen its resilience to climate change. This amount corresponds to the third tranche of the Resilience and Sustainability Mechanism, bringing the total funds received by the kingdom to 1.24 billion dollars. This aid is part of a broader strategy aimed at mitigating the effects of climate disasters, particularly the recurring drought affecting the country.
Despite these challenges, Morocco’s economy demonstrates remarkable resilience. IMF forecasts indicate sustained economic growth in the medium term, driven by increased investments and structural reforms. These reforms, encouraged by King Mohammed VI, aim to modernize the country and develop its economic and industrial potential. In 2024, growth reached 3.2%, fueled by strong domestic demand and economic policies tailored to climate challenges.
The IMF’s Deputy Managing Director and Acting President, Kenji Okamura, emphasized the strength of Morocco’s economic policies, which have enabled the country to maintain a stable trajectory. The financial institution forecasts a GDP growth of 3.7% in the coming years, thanks to ongoing structural reforms and strategic investments in various sectors, including infrastructure and water resource management.
Morocco places a particular emphasis on infrastructure development to ensure sustainable growth. Notable initiatives include the construction of desalination plants in Agadir, Al Hoceima, and Casablanca, as well as the expansion of the dam network. These projects aim to mitigate the effects of drought and ensure a stable water supply, while supporting the local economy and employment.
The IMF, based in Washington, plays a key role in supporting global economies. Its goal is to promote international monetary cooperation, encourage trade, and reduce unemployment. Funded by contributions from member countries, it provides resources to states facing significant economic difficulties. The financial support provided to Morocco reflects recognition of the kingdom’s efforts to strengthen its resilience and ensure sustainable economic growth.