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Morocco and the African Development Bank (AfDB) signed two financing agreements worth EUR 224.7 mn to shore up climate resilience, MAP reported last week. The first agreement earmarks EUR 120 mn to support the country’s climate resilience efforts, and another EUR 104.7 mn agreement will support Morocco’s National Office of Electricity and Drinking Water (ONEE) to implement a project to digitize and secure the production of potable water.
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This has been in the works: The board of AfDB approved EUR 120 mn in financing for the first phase of Morocco’s Governance and Climate Change Resilience Support Programme (GCRRP) last July. The program aims to implement reforms to strengthen Morocco’s economy and enhance resilience to climate change and other external factors.
AfDB 💚 Morocco: The lender approved EUR 84 mn in funding to support a Moroccan project aimed at boosting economic resilience to climate change and improving the water cycle in June. The project covers four watersheds and national parks and targets 6.5 mn rural residents to promote sustainable natural resource development, forest value chains, and aquaculture entrepreneurship.
