Marrakech to Host IMF-World Bank Meetings as Planned

A view of the damage which was caused by the earthquake in the town of Imi N'tala, outside Marrakech, Morocco, Wednesday, Sept. 13, 2023. (AP)
A view of the damage which was caused by the earthquake in the town of Imi N'tala, outside Marrakech, Morocco, Wednesday, Sept. 13, 2023. (AP)
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Marrakech to Host IMF-World Bank Meetings as Planned

A view of the damage which was caused by the earthquake in the town of Imi N'tala, outside Marrakech, Morocco, Wednesday, Sept. 13, 2023. (AP)
A view of the damage which was caused by the earthquake in the town of Imi N'tala, outside Marrakech, Morocco, Wednesday, Sept. 13, 2023. (AP)

Marrakech will host the annual meetings of the International Monetary Fund and the World Bank as planned on Oct. 9-15, Morocco's central bank governor said on Thursday.

Morocco was struck by a 6.8 magnitude quake centered on the High Atlas Mountains late on Friday that left more than 2,900 dead, most of them in the region south of Marrakech.

Abdellatif Jouahri was speaking to a conference bringing together participants from central banks in the Middle East and North Africa, saying the event was in preparation for the annual meetings, which would take place as planned.

Giant tents could be seen in the locality where the Moroccan government plans to host the annual meetings.



World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
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World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)

The World Bank announced on Thursday that it was redirecting funds originally earmarked for development programs in Lebanon towards emergency aid for people displaced by Israeli bombardment of the country.

"The World Bank is activating emergency response plans to be able to repurpose resources in the portfolio to respond to the urgent needs of people in Lebanon," said a statement from the US-based multilateral institution.

The multilateral institution currently has $1.5 billion in funding for programs in Lebanon. Part of this amount will be redirected.

Since September 23, more than 1,000 people have been killed in an Israeli air-and-ground campaign on Lebanon that has targeted armed group Hezbollah in the south and east of the country, with strikes expanding to include the capital Beirut.

Thousands have been displaced since the bombing began, and the funds would be used to provide aid to those populations, the World Bank said.

"This would include emergency support to displaced people that could be deployed through a digital platform the World Bank helped put in place during the Covid epidemic," the statement said.