World Bank grants Morocco 100-mln-USD loan to handle environmental issues

Photo of World Bank logo.PHOTO/AP

The World Bank approved a loan of 100-million-U.S. dollars to Morocco to strengthen its capacity of responding to environmental disasters, official news agency MAP reported on Saturday.

The report quoted Jesko Hentschel, World Bank Maghreb Country Director, as saying that protecting Morocco against natural disasters can save its economy over 800 million dollars a year.

Morocco is exposed to the risks of natural disasters related mainly to climate changes, and has launched over the last years a solidarity fund to alleviate the financial impact of natural disasters on households and businesses, the report said.

The new loan will strengthen the country’s resilience to natural disasters, and bolster its investments in flood protection infrastructure, early warning systems, hazard mapping and capacity building, it added.