Tag: Morocco

Morocco sets conditional date to phase out coal power by 2040

Stuart Mitchell

In its updated Nationally Determined Contribution, Morocco has committed to phase out coal power by 2040, ‘subject to adequate international support’ or in the 2040s unconditionally. This is the first time the nation has committed to a coal phase-out date – a key milestone after joining the Powering Past Coal Alliance in 2023. At the same time, the country also has committed to tripling its renewable energy capacity to over 15 GW by 2030, improving grids, and building out energy storage.  Coal power remains the primary source of electricity in Morocco, however the…

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IFC Supports Sustainable Agriculture in Morocco’s Farming Sector through its Partnership with Zalar Agri

Stuart Mitchell

IFC, a member of the World Bank Group, is providing $24 million in financing, including a US$12 million C loan for IFC’s own account and a mobilization of a US$12 million B loan through IFC’s syndication program, to Zalar Agri, one of Morocco’s leading fruit producers, as part of an effort to create jobs and spur export-led economic growth in rural Morocco. The financing, announced today, will help the company expand its fruit and nut growing operations, creating both permanent and seasonal jobs in Morocco’s countryside. This impact is considered…

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