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Morocco: EU pledges $1.8bln for energy and digital transition

Monday, 14 February 2022 17:39
Morocco: EU pledges $1.8bln for energy and digital transition

(Ecofin Agency) - Morocco wants to reduce its greenhouse gas emissions by 45.5% by 2030. The country also plans to increase the share of renewable energy to more than 52% by 2025.

The European Commission President Ursula von der Leyen (pictured) has announced an investment of €1.6 billion ($1.8 billion) to support the energy and digital transition in Morocco. The project will run over the next five years. "This is a great opportunity for the green and digital transition. Morocco is a country with which we have built a strategic, close, and solid partnership," she said.

The agreement with the EU makes Morocco the first African nation to benefit from the "Global Gateway" program, which aims to mobilize up to €300 billion between 2021 and 2027 for climate and digital projects.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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