WORLD Morocco gets 275-mln-USD World Bank loan to fight natural disasters

WORLD

Morocco gets 275-mln-USD World Bank loan to fight natural disasters

Xinhua

23:18, December 12, 2019

26defa16d0ad447e8f7e926e2fcc8940.jpg

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.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue