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FinancialNews
18-01-20
Morocco to take USD 275 million loan from World Bank
(MENAFN) According to the Moroccan economy and finance ministry, in order to help the Morocco's disaster risk management, on Thursday, the World Bank granted Morocco a loan of USD275 million.
The loan is to support Morocco to build up its capacity to manage financial impact of natural disasters and climate-related shocks.
Moroccan Minister of Economy and Finance Mohamed Benchaaboun and Jesko Hentschel, director for the World Bank's department of the Maghreb and Malta, have signed the deal about the loan on Thursday.
As said by Benchaaboun, the loan will be used to cover disastrous risks, as Morocco has currently established a system to deal with the consequences of catastrophic events.
MENAFN1801202000450000ID1099569283
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