This loan will support the development of climate finance to accelerate the achievement of the ambitious goals set out in Morocco’s Nationally Determined Contribution (NDC).
The French Development Agency (AFD) has approved a €80 million loan to Morocco and a €2 million technical assistance grant to support the country’s public policy of “green fiscal transition.” This was announced by the AFD in a press release published on Wednesday 12 July.
According to AFD, the aim of the programme is to help align public finance instruments with climate change mitigation and adaptation issues, and to support the development of climate finance in order to accelerate the achievement of the ambitious goals set out in Morocco’s Nationally Determined Contribution (NDC).
“This new programme will strengthen institutional resources and capacities in several areas, including climate labelling of the budget, public procurement, the State’s green bond issues and the sustainable management of public institutions and companies,” the director of AFD’s representation in Morocco, Quiterie Pincent explained.
The loan will also be used to strengthen inter-ministerial coordination and management of the State’s efforts to combat climate change. “Implementation will be closely coordinated with the climate change programme recently approved by the World Bank,” said AFD.
HA/lb/abj/APA