WB allocates $300M loan to back-up Green Growth Strategy in Morocco

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The World Bank will allocate an estimated $300M loan for Morocco in support of the Green Growth Strategy.

WB allocates $300M loan to back-up Green Growth Strategy in Morocco

WB allocates $300M loan to back-up Green Growth Strategy in Morocco

Morocco has shown that even in middle income countries, the adoption of climate smart policies is beneficial for the people, the economy and the environment World Bank Country. The choice between the environment and jobs is often the wrong choice. The 22nd Conference of the Parties (COP 22) to be convened in Marrakesh in November 2016 will provide additional opportunities to show that green growth is a reality in Morocco.

The program was designed to help Morocco square the circle of sustainability and economic growth.

The DPL also supports Morocco’s efforts to meet its energy challenges by developing the renewable energy market, energy efficiency regulation in the building sector, and removing fossil fuel subsidies. The latter will result in significant budgetary savings, making space for social programs such as health and education, while contributing to a substantial reduction of CO2 emissions up to roughly 14 million tons annually.

Mohamed Dekkak

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