Morocco Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option

closed

Closed

The development objective of the Disaster Risk Management Development Policy Loan with a Catastrophe Deferred Drawdown Option Project for Morocco is to support the Government of Morocco (GoM) in: (a) strengthening the country’s institutional capacity to deal with the adverse financial impacts of disasters and climate-related shocks, and (b) strengthening Morocco's institutional framework for disaster and climate-related risk management. This operation builds on a longstanding World Bank engagement with the GoM in disaster risk management (DRM) and disaster risk finance (DRF). Morocco is one of the countries most exposed to geological and climate-related hazards in the Middle East and North Africa (MENA) region. The GoM has developed a strong, cross-sectoral DRM and climate change adaptation policy framework over the last two decades. The framework still suffers from insufficient inter-ministerial coordination of DRM policies and programs, which can jeopardize the progress achieved so far. The linkages and coordination mechanisms between the central and local government layers also lack clarity. Disaster risk information is not systematically generated and shared, which reduces the ability of decision makers in various sectors to use it to inform the design of their programs. The government’s recent reforms on catastrophe risk insurance are an important step towards building the country’s financial protection against natural catastrophes.

World Bank Group

Project

Commercial, Government