The European Bank for Reconstruction and Development (EBRD) and the Union for the Mediterranean (UfM) launched a joint programme aimed at the development of private renewable energy markets in Egypt, Jordan, Morocco and Tunisia.
The SEMED Private Renewable Energy Framework (SPREF), a €227.5 million financing framework, was presented during the EU Energy Day at the COP22 international climate conference in Marrakesh.
The programme will help the region reduce its heavy dependence on imports of hydrocarbons. It aims to mobilise additional investment from other parties, including the Climate Investment Funds’ Clean Technology Fund (CTF) and the Global Environment Facility (GEF), of up to €834 million. Financing will be accompanied by targeted technical cooperation support for the implementation of renewable energy projects in the region that aim to avoid 780,000 tonnes of CO2 emissions annually.
Read the full article via Union for the Mediterranean web site.
[Photo by Leandro Neumann Ciuffo | Flickr]