Adapting to climate change: The International Monetary Fund will grant Morocco a loan worth $1.3 billion

The Director-General of the International Monetary Fund, Kristalina Georgieva, announced on Monday that the Fund will grant Morocco a loan worth $1.3 billion to strengthen its ability to adapt to climate change.

Ms. Georgieva explained, in an exclusive interview with the Maghreb Arab Press, that “the International Monetary Fund signed an agreement with Morocco at the expert level for long-term financing worth $1.3 billion” directed to strengthening the Kingdom’s ability to mitigate the repercussions of climate change.

The Director General of the International Monetary Fund added, on the sidelines of her participation in the 78th session of the United Nations General Assembly, that climate change is among the major challenges facing the international community.

In this regard, she said that climate change is among the challenges facing the world today, which “affects us significantly,” noting that this problem will constitute one of the three axes that the International Monetary Fund will focus on during its participation in the Sustainable Development Goals Summit, which will be held on the sidelines of the conference. High-level debate of the United Nations General Assembly.

On the other hand, Ms. Georgieva pointed out that debts “have risen dramatically and constitute a burden on low-income countries.”

She also highlighted the importance of digital inclusion in order to support growth and prosperity in the world, stressing the importance of cooperation and partnership as a way to overcome current challenges.

“We will also focus on means that enable international institutions to work together more effectively,” she said.

 

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