The Board of Directors of the African Development Bank Group approved a 120 million euros financing package for Morocco today, aimed at supporting efforts to combat climate change.

According to a statement from the bank, the program primarily seeks to implement reforms that stimulate the Moroccan economy and enhance its resilience to external factors, including climate-related challenges.

The bank emphasized that by supporting the transition towards a sustainable development model, the program also aims to reduce the volatility of Morocco’s macroeconomic framework in response to external factors, including climate impacts. This support will bolster the government’s initiatives to strengthen governance, improve the performance of the water sector, and establish a conducive framework for the development of renewable energy.

Source: Qatar News Agency