EBRD Promotes ‘Green Cities’ Program in Rabat to Boost Sustainable Development

Rabat - The European Bank for Reconstruction and Development (EBRD) hosted a key meeting in Rabat on Thursday, aimed at promoting its "Green Cities" program, which focuses on financing sustainable development projects across Morocco. The event brought together local authorities, financial experts, and regional leaders to discuss the pivotal role of cities in tackling climate change and to explore available financing models for supporting local investment programs.The gathering included experts from Morocco's General Directorate of Local Authorities (DGCT) and the Moroccan Capital Market Authority (AMMC). The discussions centered on how cities can address the growing challenges of climate change and energy transition, and on the financial tools available to support these efforts.Antoine Sallé de Chou, EBRD's Director for Morocco, highlighted that the "Green Cities" program targets local authorities in countries where the Bank operates, particularly municipalities and regions. He stressed that the initiati ve aims to assist these entities in developing their investment programs to confront climate change and advance energy transition goals.The program, active in 50 cities worldwide, has mobilized pound 5 billion to enhance sustainable development infrastructure, including sustainable mobility, public lighting, and water management. Sallé de Chou also noted that the program has already been launched in Agadir and, more recently, in the Guelmim-Oued Noun region.Mbarka Bouaida, President of the Guelmim-Oued Noun Regional Council, emphasized that cooperation with the EBRD is crucial for diversifying funding sources to address water scarcity. A loan agreement of 131 million dirhams has been signed with the EBRD to supply water to rural areas and modernize wastewater treatment facilities. Bouaida added that the partnership provides not only financial support but also significant technical assistance, leveraging the EBRD's international expertise.Rachid El Abdi, President of the Rabat-Salé-Kenitra Regional Counc il, described the meeting as an opportunity to deepen understanding of sustainable city planning and investment.He noted Morocco's growing environmental challenges, including desertification, air pollution, and water stress, and emphasized the need for determined and innovative solutions. El Abdi highlighted the "Green City" concept as a promising solution for a more sustainable future and praised Morocco's commitment to sustainable development through various initiatives, including solar parks and sustainable agriculture projects.Mostafa Bouderka, First Vice President of the Agadir municipality, revealed that Agadir was the first local authority in Morocco to use financial markets (bond issuance) to fund its urban development plan. He noted that the investment program is having a significant impact on the city, attracting more tourists, and that the EBRD has contributed nearly 40% of the bond issuance, amounting to 400 million dirhams over 10 years.Source: Agence Marocaine De Presse