Morocco’s Ministry of Energy Transition and Sustainable Development (MTEDD) and the state-owned financial institution CDG signed a partnership agreement on Monday to facilitate financing the country’s green energy transition to a carbon-neutral economy. Minister of Energy, Leila Benali, and CDG’s Director General Khalid Safir signed the agreement in Rabat.
Minister Benali told the Moroccan News Agency (MAP) that she is optimistic about the agreement, suggesting that it would facilitate the adoption of innovative financing approaches for public policies related to energy transition and sustainable development.
She noted the need to accelerate investment rates and enhance the quality of investments in renewable energy and green transformation projects.
The agreement also bolsters the Administrative Example Pact, a framework that promotes best practices in public administration, particularly with respect to sustainability and good governance. Benali said that financial support would be directed to provide for structuring investment projects in these areas.
Aligned with national efforts to support strategic projects focused on sustainable development, the partnership outlines a collaboration framework for the CDG and the ministry to implement key initiatives in renewable energy, energy efficiency, ecological infrastructure, and green innovation.
Key partnership goals include contributing to the National Strategy for Sustainable Development, promoting the public administration’s role in sustainable development, and supporting projects under Morocco’s Nationally Determined Contribution to combat climate change.
The agreement also would enhance territorial climate plans and promote energy efficiency in various sectors, including public lighting, buildings, mobility, and waste management.
It is also expected to facilitate the financing and structuring of renewable energy projects, particularly in green hydrogen and electric transmission, support the creation of industrial ecosystems, and foster research and innovation in sectors related to transitioning to green energy.