AfDB backs Morocco’s green finance push
The African Development Bank Group (AfDB), through the African Green Banks Initiative and the Multilateral Cooperation Center for Development Finance, has launched a US$1 million technical assistance programme to strengthen the green finance capacity of Crédit Agricole du Maroc Group (GCAM).
The programme, launched on 28 January, is designed to enhance GCAM’s institutional, operational and financial capabilities, enabling the bank to access concessional and private capital, identify and structure bankable green projects, and strengthen climate impact monitoring and reporting.
The technical assistance will support project development across high-impact sectors, including sustainable agriculture, rural development, water management, clean energy, resilient infrastructure and connectivity. It will also ensure GCAM’s financing activities are aligned with international climate finance standards, improving its ability to mobilise global climate capital.
“This partnership between the African Development Bank Group and the Crédit Agricole du Maroc Group confirms the ability of African institutions to play a strategic role in financing ambitious climate projects,” said Achraf Tarsim, AfDB Country Manager for Morocco. “With its high-impact structural achievements, Morocco has consolidated its position as a benchmark country for green finance right across the continent.”
Mustapha Chehhar, Deputy General Manager of Crédit Agricole du Maroc Group, said the initiative reinforces the bank’s leadership in sustainable finance.
“Through this initiative, the Crédit Agricole du Maroc Group has consolidated its leadership in green finance and is gradually expanding its area of intervention beyond agriculture, agribusiness and the rural world, in order to also support investments in strategic sectors such as resilient infrastructure and connectivity, in support of the climate transition and the sustainable development of Morocco,” he said.
The programme also advances Morocco’s compliance with its Nationally Determined Contribution (NDC) commitments, while strengthening the alignment of national financial flows with the country’s climate priorities. It further creates a pathway for increased access to international climate finance and the mobilisation of private capital for large-scale, high-impact projects supporting ecological transition and sustainable development.
In addition, the initiative aligns with AfDB Group President Dr Sidi Ould Tah’s Four Cardinal Points, which focus on mobilising Africa’s financial resources, strengthening financial systems, leveraging population growth, and investing in climate-resilient infrastructure that delivers tangible development outcomes.
Since 1978, the African Development Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes in Morocco, spanning transport, social protection, water and sanitation, energy, agriculture, governance and finance.
Distributed by APO Group on behalf of the African Development Bank Group (AfDB).
