The World Bank’s Board of Directors has approved two major programs worth a combined $650 million to support Morocco’s climate resilience, financial stability, and digital transformation efforts.
The first initiative, the $400 million Morocco Climate & Risk Finance Program, aims to strengthen the country’s ability to manage climate-related, disaster, and cyber risks while mobilizing private investment for climate infrastructure projects.
According to the World Bank, the program will help develop disaster and cyber insurance mechanisms, expand risk-transfer capacity, strengthen institutional frameworks, improve digital payment systems to facilitate rapid financial support after crises, and enhance regulators’ ability to oversee climate and cyber risks affecting banks and insurance companies.
The institution said these measures are intended to better protect households, businesses, and the financial sector from growing climate and technological threats.
The program will also establish a Project Preparation Facility to support the development of commercially viable projects in renewable energy, energy efficiency, sustainable transport, and water infrastructure. In addition, it seeks to attract private investment through blended finance structures and capital market instruments designed to reduce investment risks.
Over the next five years, the World Bank expects the program to mobilize up to $400 million in private capital, secure $1 billion in pre-arranged disaster financing, and extend cyber-risk coverage to at least 20 financial institutions.
“Enabling long-term capital for climate action will build a pipeline of climate-aligned infrastructure projects with potential for private-sector participation, establish the institutional and financing architecture to prepare them, and design de-risking instruments to crowd in private capital,” the World Bank said.
Alongside the climate finance initiative, the World Bank approved a second operation worth $250 million under the Morocco Digital Transformation Acceleration Program, which will support the implementation of the country’s Digital Morocco 2030 strategy.
The program is designed to accelerate the deployment of citizen- and business-focused digital public services, support the government’s migration to cloud-based systems, strengthen financing and capacity-building for startups, promote artificial intelligence innovation, and assist the digital transformation of micro, small, and medium-sized enterprises.
The initiative also aims to create employment opportunities in Morocco’s offshoring sector and expand the country’s pool of digital talent.
Ahmadou Moustapha Ndiaye, World Bank Division Director for the Maghreb and Malta, said the two programs support key pillars of Morocco’s development agenda.
“These two new programs address critical pillars of Morocco’s transformation priorities, a digitally empowered economy, a vibrant innovation ecosystem, and a financially resilient nation equipped to manage the climate, disaster, and cyber risks of a rapidly changing world,” Ndiaye said.
“Together, these programs will support an integrated architecture for Morocco’s next decade — one that mobilises private capital, creates jobs for youth and women, and advances the country’s climate commitments.”
