Morocco is called upon to share its successful experience in renewable energies with African countries, said President of the African Development Bank (AfDB) Akinwumi Adesina, who is taking part in the AfDB annual meetings held in Sharm el-Sheikh, Egypt, this May 22-26.
Morocco aimed high in capitalizing on renewable energy to develop its economy, said Adesina at a press conference on the sidelines of the AfDB event, held under the theme “Mobilizing Private Sector Financing for Climate and Green Growth in Africa.”
Morocco’s successful experience with the Noor Ouarzazate complex, one of the largest solar parks in the world, will inspire AfDB to launch similar projects in Africa, as part of the ‘Desert to Power’ project which aims to provide energy to 250 million people in the countries that make up the Sahelian band using the energy sources available in abundance in the region.
“The AfDB is proud of Morocco’s achievements in renewable energy,” insisted Adesina, citing as examples the Noor Ouarzazate complex and the Noor Midelt solar project.
He also reiterated the Bank’s commitment to continue to support Morocco in its energy transition, within the framework of public-private partnership (PPP).
The AfDB supports several private sector projects in Morocco, through lines of credit granted to banks, particularly in agriculture and industry, said Adesina, emphasizing the cooperation with OCP group to improve access to fertilizers in Africa.
The AfDB 58th Annual Meetings are considering ways to enhance mobilization of the private investment that Africa so urgently needs to meet its climate change adaptation and mitigation objectives.
The Moroccan delegation to the AfDB annual meetings is led by Minister of Economy and Finance Nadia Fettah.
In her capacity as AfDB Governor for the Kingdom of Morocco, Fettah is taking part in this year’s Governors’ Dialogue which focuses on the current transformation of the international financial architecture and how this evolution may affect the critical role of multilateral development institutions.
Nadia Fettah is expected to hold side talks with her counterparts from the participating countries.
