File photo: CGTN
RABAT, Dec. 12 (Xinhua) -- The World Bank has approved a loan of 275 million U.S. dollars to support Morocco's disaster risk management, the official MAP news agency reported Thursday.
The loan aims to help the North African country strengthen its capacity to manage the financial impact of natural disasters and climate-related shocks, it added.
It will also support the reforms designed to strengthen the financial, governance, and operational framework of the Moroccan Solidarity Fund against Catastrophic Events.
This fund is a critical tool which complements private insurance by providing compensation to the uninsured, such as the poor and most vulnerable, the MAP report said.