GGGI supports the Moroccan Government to receive a grant from the Green Climate Fund (GCF) to Enhance Access to Climate Finance in Morocco’s Regions

Rabat, Morocco, December 30, 2019 – The Green Climate Fund (GCF) Secretariat has approved the Readiness proposal for the Kingdom of Morocco for 400,242 USD, to enhance access to climate finance in Morocco’s regions, in accordance with the terms of the framework Readiness and Preparatory Support Grant Agreement between GCF and GGGI.

GGGI, who provided technical assistance throughout development of the process and facilitated the written proposal, will support the implementation of the project in close collaboration with the Ministry of Energy, Mines and Environment – the Department of Environment as the National Designated Authority (NDA). The first component of the project will be to design a multi-sector National Financing Vehicle (NFV) to help regions, provinces and municipalities access climate finance to support the implementation of Morocco’s National Sustainable Strategy (NSDS), Nationally Determined Contributions (NDCs), and the Sustainable Development Goals (SDGs), while the second one consists of designing a regional climate finance pipeline development capacity building program, to accompany the national and regional stakeholders in prioritizing and preparing bankable, sustainable and inclusive climate finance projects.

Through its Morocco Program, GGGI aims to support the country in the development of inclusive green territories in order to contribute to the NDC 2030 targets of a national overall GHG emission reductions of 42% below business-as-usual (BAU) emissions, and the closing of the green investment gap in conditional investments.