IMF approves $415 million funding to Morocco to help boost renewables

The International Monetary Fund (IMF) has approved $415 million to support Morocco’s efforts to mitigate the negative impacts of climate change on its economic growth. The IMF said Morocco continues to make progress in bolstering its resilience against climate change and seizing the opportunities from decarbonization. The IMF went on to say that

the investments made by Morocco in water infrastructure to address water scarcity need to be complemented by management reforms, stressing the need to continue progress toward liberalizing the electricity markets to boost private sector participation in renewable energies.