2023-12-30 03:52:00
(Ecofin Agency) – Between July and August 2023, Morocco lost more than 1,400 hectares of its forest cover due to forest fires. The EIB’s financial support will enable the country to strengthen the resilience of forest ecosystems and promote economic development.
Morocco will benefit from a loan of 100 million euros ($110.4 million) from the European Investment Bank (EIB) for the country’s inclusive and sustainable forest management project. This is indicated by a communiqué of the institution published on Thursday December 28, 2023.
This financing will benefit from a guarantee from the European Union (EU) over the period 2024/2028 and will support the strategy “ Forests of Morocco 2020-2030 » which will be implemented by the National Agency for Water and Forests (ANEF).
? Signing of a Financing Contract for the Support Program of the European Investment Bank for Morocco’s Forest Strategy 2020-2030
— Ministry of Economy and Finance (@financesmaroc) December 28, 2023
The strategy aims to ensure sustainable management of natural resources, promote ecotourism and promote forestry economic sectors, while contributing to the socio-economic development of the populations concerned. It will indeed create more than 27,500 jobs and increase the market value of the productive and ecotourism sectors to around 0.5 billion euros per year, the press release indicates.
This decision comes in a context where more than 1,400 hectares of Moroccan forest cover have been ravaged by forest fires due to the high temperatures recorded between July and August 2023. In addition, the Cherifian kingdom is considered a country in a situation of “ structural water stress » due to the devastating effects of global warming. According to world Bankbetween 1960 and 2020, the availability of renewable water resources increased from 2560 to approximately 620 cubic meters per person per year.
In order to strengthen its resilience to climate change, Morocco has implemented several initiatives at the national level, notably by adopting the Green Morocco Plan (PMV) which places particular emphasis on the promotion of agriculture and the protection of ‘environment. The country has also decided to allocate more than $14 billion to the National Program for Drinking Water Supply and Irrigation 2020-2027, with the aim of improving management and access to water.
Note that in 2021, in revising its ambitions in terms of reducing greenhouse gas emissions (CDN), Morocco has set a target of 45.5% by 2030.
Charlène N’dimon (intern)
Also read:
13/09/2021 – Morocco: the new executive will have to face accelerating climate change
08/16/2021 – After Tunisia and Algeria, Morocco affected by major forest fires
07/13/2021 – Morocco revises its climate ambitions upwards as part of its revised CDN
05/10/2023 – Morocco allocates $14 billion to drinking water supply and irrigation
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