EBRD provides a €120 million loan to the Morocco Saïss Water Conservation Project
Strengthening climate resilience of Moroccan agriculture.
The EBRD is providing a €120 million loan to the Saïss Water Conservation Project in Morocco that will help protect the country’s agricultural sector from the impact of climate change.
The EBRD’s financing for the Saïss Water Conservation Project for the construction of irrigation infrastructure is being supported by a co-financing grant of €32 million from the Green Climate Fund (GCF).
In Morocco, extreme water scarcity is being exacerbated by the impacts of climate change, and the unsustainable use of groundwater is leading to a reduction in groundwater reserves, posing a severe threat to agricultural production and rural livelihoods.
The Bank’s investment in the Morocco Saïss Water Conservation Project will improve climate resilience with support for the development of a transformative water transfer scheme that will deliver more than 100 million cubic metres of irrigation water to the Saïss plain each year.
Read the full article by Nibal Zgheib via EBRD | European Bank for Reconstruction.
[Photo by Alexander Cahlenstein | Flickr]
