A MAD150 million ($14,635,368) loan is going to serve the mining sector in Morocco and help it set up its transition to carbon emissions-reduced operations. The new equipment will be more energy efficient, significantly reducing diesel consumption and lowering the company’s carbon emissions. Morocco has an ideal geographical location and exceptional phosphate resources, holding more than 75% of the world’s reserves. This contributes positively to Morocco’s energy transition profile as similar battery production-related projects are also currently taking place in Morocco. Morocco is a founding member of the EBRD and became a beneficiary of Bank resources in 2012.
