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Morocco moves towards a green economy

For the past few years, the Kingdom has been investing massively in clean energy, and has displayed its sustainable development objectives. This commitment has been accelerated with new "green" economic objectives, by investing in renewable energies. This new roadmap was presented to the UN, and follows the commitments made by Morocco at the COP26 last October.

Ambitious objectives for 2050

Within the next thirty years, the kingdom wants to accelerate the development of renewable energies in order to reach a target of 80% of decarbonized electricity in the country. And this decarbonization is not limited to electricity in the kingdom’s project, since the authorities also want to develop green hydrogen, in order to make the building and transport industry less polluting.

Finally, Morocco wants to optimize the use of natural resources in all its sectors, industrial, energy, economic, and is committed to using much more than usual. 

 

World’s largest solar complex in Ouarzazate, Morocco

Financial support from the EBRD 

As a sign of the confidence of the financial and political authorities in this ambitious roadmap, the European Bank for Reconstruction and Development (EBRD), together with the Green Climate Fund and the European Union, has committed to providing a €25 million loan to the Moroccan Bank for Trade and Industry (BMCI) to help achieve these goals.