Morocco Selected for $30 Million in Climate Financing

The Moroccan government has been selected as one of the first six beneficiaries of the Accelerating Resilience Investments and Innovations for Sustainable Economies (ARISE) program. This initiative, launched by the Climate Investment Funds (CIF), offers up to $30 million in concessional financing to support climate change adaptation projects. The program was announced on the sidelines of COP31 in Antalya.

The ARISE program aims to facilitate the financing of infrastructure that can withstand the effects of climate change. In Morocco, the program will be implemented by the Ministry of Interior, through the General Directorate of Territorial Collectivities (DGCT), in partnership with the World Bank Group, the European Bank for Reconstruction and Development (EBRD), and several national and international stakeholders.

The program will focus on supporting projects in the water, waste, and transportation sectors, with a central role for territorial authorities. It also aims to integrate nature-based solutions to enhance the adaptive capacity of territories. A portfolio of investment projects will be established to address climate vulnerabilities in various regions.

One of the primary objectives of the ARISE program is to transform local climate adaptation priorities into bankable projects that can attract public and private capital. To achieve this, the program will utilize various financial instruments, including concessional loans, blended finance, guarantees, and risk-sharing mechanisms.

The program will build on the Program of Climate Action for Territorial Collectivities (PACCT), which aims to bridge the gap between local climate planning and actual investment implementation. Under the coordination of the DGCT, with the support of the Global Covenant of Mayors for Climate and Energy (GCoM), this approach will strengthen cooperation among regions, municipalities, ministerial departments, development financial institutions, and the private sector.

The EBRD has welcomed Morocco's selection, with Gianpiero Nacci, Director General for Strategy and Climate Implementation, expressing the bank's commitment to collaborating with Moroccan authorities and program partners to identify high-impact investments and mobilize financing.

The selection of Morocco for the ARISE program demonstrates the country's strong commitment to enhancing climate resilience through national and local action. The program is expected to have a positive impact on Morocco's climate change adaptation efforts, particularly at the local level, and will contribute to the country's transition to a more sustainable and resilient economy.

Key points

• Morocco will receive up to $30 million in concessional financing to support climate change adaptation projects.