Morocco Secures €200 Million AFD Loan for Climate Action and Economic Recovery

This is a 200 million euro credit line and a 3.5 million euro technical assistance grant for the benefit of the most vulnerable territories.

These agreements strengthen the strategic partnership between the FEC and the AFD and are in line with the provisions to fight the effects of climate change and reduce territorial and social disparities. This program supports the sustainable territorial development of Morocco and will allow for greater socio-economic equity, the two institutions said in a statement.

"This new partnership is in line with the strategic orientation of the Communal Equipment Fund aimed at diversifying its financing sources internationally, in particular in the context of the significant increase in the volume of loan requests addressed to the Institution, particularly in the wake of the advanced regionalization project," added Lahlou.

In addition, "this project notably reflects France’s commitments in favor of the climate, in line with the Paris Agreements and the Moroccan Nationally Determined Contribution (NDC) and represents a concrete illustration of the shared ambition between France and Morocco regarding the development of Climate Finance, and this, a few months before the holding of COP 26. Beyond that, it carries an ambition of inclusive and sustainable development of the territories," said Hélène Le Gal.