Morocco has taken a further step in strengthening its climate transition and green finance ambitions following a $1 million technical assistance grant from the African Development Bank Group to Crédit Agricole du Maroc Group.
Launched on January 28 through the African Green Banks Initiative and the Multilateral Cooperation Center for Development Finance, the program is designed to reinforce Morocco’s capacity to mobilise concessional and private climate finance while expanding the pipeline of bankable green projects across the country.
The support will strengthen Crédit Agricole du Maroc Group’s institutional, operational and financial capabilities, enabling it to identify, structure and finance climate-aligned investments and improve the monitoring of environmental impact. By aligning funding activities with international climate finance standards, the initiative also enhances Morocco’s attractiveness to global climate investors.
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The technical assistance will target sectors central to Morocco’s climate and development priorities, including sustainable agriculture, rural development, water management, clean energy, resilient infrastructure and digital connectivity. These areas are critical to building climate resilience while supporting inclusive economic growth.
Morocco’s green finance leadership was highlighted by Achraf Tarsim, the African Development Bank Group’s Country Manager for Morocco, who noted that the partnership underscores the country’s ability to position its national financial institutions at the center of ambitious climate action. He said Morocco’s structural achievements have already established it as a benchmark for green finance across the African continent.
For Crédit Agricole du Maroc Group, the program reinforces its evolving role in supporting Morocco’s climate transition. Deputy General Manager Mustapha Chehhar said the initiative consolidates the bank’s leadership in green finance while expanding its focus beyond agriculture and agribusiness to include strategic investments in resilient infrastructure and connectivity that support sustainable development.
The program also strengthens Morocco’s implementation of its Nationally Determined Contribution by improving the alignment of financial flows with national climate objectives. Over time, it is expected to unlock greater access to international climate finance and mobilise private capital for large-scale projects that advance ecological transition and long-term sustainability.
The initiative aligns with the African Development Bank Group’s broader strategy of mobilising Africa’s financial resources, strengthening financial systems, investing in climate-resilient infrastructure and delivering measurable development impact.
The grant builds on a long-standing partnership between Morocco and the African Development Bank Group, which has mobilised nearly €15 billion since 1978 to finance more than 150 projects across transport, water and sanitation, energy, agriculture, governance and finance, supporting the country’s vision of a resilient, inclusive and sustainable economy.