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- OPEC Fund supports Morocco earthquake relief efforts with US$500,000 grant
OPEC Fund supports Morocco earthquake relief efforts with US$500,000 grant
September 15, 2023: The OPEC Fund for International Development (the OPEC Fund) approved a US$500,000 grant to support immediate and medium-term humanitarian relief efforts in response to the devastating earthquake that struck Morocco on September 8, 2023. The earthquake, with a magnitude of 6.8, has inflicted severe damage and claimed thousands of lives, making it the largest earthquake to hit Morocco in more than 100 years.
The OPEC Fund’s emergency aid will address critical needs including the provision of food, safe water and shelter, as well as protection and prevention measures as part of the overall relief operation. The grant will be channeled through the International Federation of Red Cross and Red Crescent Societies (IFRC) and will provide vital assistance to the Moroccan Red Crescent Society (MRCS).
OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said:
“We stand in solidarity with the people of Morocco, who have endured devastating losses as a result of this massive earthquake. In collaboration with the international community, we hope our immediate assistance can meet the urgent needs of those affected and help their recovery."
The grant is intended to assist the most vulnerable segments of the population such as families, children, people with disabilities and the elderly. The OPEC Fund’s commitment to providing humanitarian aid aligns with its long-standing partnership with IFRC, dating back to 1997. To date, the OPEC Fund has extended nearly US$32 million in grants to IFRC for more than 85 humanitarian and emergency response initiatives.
About the OPEC Fund
The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works in cooperation with developing country partners and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a distinct purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$24 billion to development projects in over 125 countries with an estimated total project cost of US$190 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA, Outlook Positive by S&P. Our vision is a world where sustainable development is a reality for all.