Last week, World Bank’s board of governors favored the budget for the Green Growth Program of the Kingdom of Morocco amounting to $300M. This will be used for the promotion of profit divergence in the Moroccan countryside, enhance the supervision of natural resources as well as to promote a shift to low carbon growth.
WB Director for Maghreb department stated that the country puts the green agenda at the lead of its development priorities to assure a strong and solid economy that provides opportunities to susceptible communities.
The Program will present sustainable ways in farming and improve new sectors like aquaculture and eco-tourism that have the capability to generate employment and diversify revenues in the countryside regions, wherein 70% of the country’s less fortunate population live.
The Program is expected also enhance the operations of seaside and maritime assets to ease the rising pressures on the coastline of Morocco. A prime challenge for Morocco is the water resource management and the Program will control groundwater abstraction and expand the current Water law.
As climate change is now forming main policy and investment assessments, specifically in areas like farming and water resource management, green growth program will offer a collection of measures intended at lessening Morocco’s pollution levels, reliance on fossil fuels, and the overall envelope assigned to energy subsidies. Together the environmental measures, the economic and social effect on the general public, particularly in rural areas where reliance on natural assets is significant, is the subject of all green growth policies.
Experts said that Morocco’s shift to green growth is a homegrown strategic agenda, deeply inculcated in the minds of a policymaker.