The African Development Bank Group, through the African Green Banks Initiative and the Center for multilateral cooperation for development financing, launched a $1 million technical assistance program for Credit Group Agricole du Maroc (GCAM) on January 28.

The financing of the ADB will strengthen the institutional, operational and financial capacities of GCAM in order to make it possible to mobilize concession and private capital, to identify, structure and finance green projects, and monitor their impact on the climate. The targeted projects will concern high-impact sectors, ranging from from sustainable agriculture to rural development, including the management of water, clean energy, resilient infrastructure, and connectivity.

According to Achraf Tarsim, head of operations of the African Bank Group of development in Morocco, “this partnership between The African Bank Group of development and the Crédit Agricole Group of Morocco confirms the capacity of African institutions to play a strategic role in the financing of ambitious climate projects.”

This program contributes to the implementation by Morocco of its nationally determined contribution (CDN) and reinforces the alignment of national financial flows with priorities climate of the country. It also facilitates access to climate finance. international and the mobilization of private capital for projects structures likely to support the ecological transition and the sustainable development.