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Beijing-based Asian Infrastructure Investment Bank (AIIB) has approved a $200 million loan to support Morocco’s climate change resilience programme.
The funds will target priority projects focused on enhancing environmental and water infrastructure while improving the resilience of the most vulnerable sectors to climate-related risks, the Morocco World News reported, citing a statement from the Chinese embassy.
The loan is part of a co-financing programme with the World Bank, which has already committed $350 million.
In September 2024, a World Bank report said that Morocco faces serious climate threats, with accelerated warming leading to extreme weather events.
The new funding will lead to benefits such as greenhouse gas emission reduction and resilience of territories exposed to climate hazards.
Morocco joined the AIIB in 2019, with the institution focusing on financing infrastructure projects in 110 regional and non-regional member countries.
(Writing by P Deol; Editing by Anoop Menon)
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