Rabat: EBRD promotes its “Green Cities” program to local authorities

The European Bank for Reconstruction and Development (EBRD) organized a meeting in Rabat on Thursday with various local authorities in the Kingdom to promote its “Green Cities” program dedicated to financing sustainable projects.

This meeting, attended by experts from the General Directorate of Local Authorities (DGCT) and the Moroccan Capital Market Authority (AMMC), aims to explore the crucial role of cities in addressing the challenges of climate change and highlight the financing models available to support their investment programs.

Speaking on this occasion, the EBRD Director for Morocco, Antoine Sallé de Chou, stressed that the “Green Cities” program is aimed at local authorities in the countries where the Bank operates, and more specifically at municipalities and regions, noting that it is a question of supporting the latter in the development of their investment programs to meet the challenges inherent in climate change and the energy transition.

This program, deployed in 50 cities around the world, mobilizes financing of 5 billion euros intended to strengthen sustainable development infrastructures, particularly in terms of sustainable mobility, public lighting and water, he added. Mr. Sallé de Chou also specified that the EBRD has already launched this program in the municipality of Agadir and, more recently, in the Guelmim-Oued Noun region.

This partnership, she continued, does not only aim at financing these structuring projects but also at providing significant technical support in light of the EBRD’s international experience, in addition to the implementation of the EBRD’s “Smart Green Cities” programme in the four provinces of the region. For his part, the President of the Rabat-Salé-Kénitra Regional Council, Rachid El Abdi, stated that this meeting is an opportunity to exchange with experts to deepen our understanding of the approach to designing and investing in sustainable cities.

Mr. El Abdi also noted that Morocco faces growing environmental challenges, including desertification, air pollution and water stress, which should be addressed with determination and innovation.

In this sense, he stressed that the concept of “Green City” is emerging as a promising solution to build a more sustainable and harmonious future, adding, in this regard, that Morocco has shown its commitment to sustainable development through several innovative initiatives and projects, including the establishment of a solar park, and the promotion of sustainable agriculture. To successfully transition to green cities, it is essential to go further and strengthen these efforts, he noted, indicating that the environmental challenge has been at the heart of the strategy of the Rabat-Salé-Kénitra Council and that it is imperative to encourage local authorities, businesses and citizens to adopt eco-responsible practices. The first vice president of the municipality of Agadir, Mostafa Bouderka, said that the urban municipality of Agadir was the first local authority to have resorted to financial markets (bond issue) to finance the urban development plan.

This is a major investment program in the city of Agadir that has a tangible impact on citizens and the city, which is gaining in attractiveness with a significant influx of tourists, he added, noting that the EBRD has supported almost 40% of this bond issue, namely 400 million dirhams over 10 years.

The program for this meeting includes two panels on “What technical assistance to support the preparation and sustainable implementation of projects for Moroccan local authorities?” and “Bond loans, a future financing tool for financing local authorities.”