[ad_1]
Morocco has been selected among 13 beneficiary countries from a new green financial program worth $634 million provided by the European Bank for Reconstruction and Development (EBRD) and the Green Climate Fund (GCF).
Under this program, Morocco, Egypt, Jordan, Armenia, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Mongolia, North Macedonia, Serbia, Tajikistan and Uzbekistan will benefit from the Bank’s and GCF concessional finance and advisory services.
The new green financial program is designed to make green finance affordable and accessible to a wide range of beneficiaries, from households, smallholders, and micro, small and medium-sized enterprises (MSMEs) to municipalities, utilities companies, and larger corporates.
Through partner financial institutions, concessional finance and advisory services will be deployed to fund green investments such as energy efficiency, renewable energy, sustainable construction and climate-resilient technologies.
Building on the success of the $1.4 billion program Green Economy Financing Facility (GEFF), which includes a $378 million contribution from the GCF, the new program aims to achieve a transformative market shift.
Partner financial institutions will receive concessional funding, climate-risk tools and training to unlock green lending opportunities. They will also acquire the skills and institutional capacity to offer green finance products independently, embedding climate finance into their business models.
The EBRD-GCF program offers financial incentives to partner financial institutions that commit to delivering climate transition plans aligned with the Paris Agreement.
[ad_2]
Source link