Multilateral Cooperation Center for Development Finance (MCDF) grant-supported technical assistance to help Crédit Agricole du Maroc (CAM), a commercial bank in Morocco, establish a facility for financing green infrastructure was launched during a hybrid event in Rabat on 28 January. The technical assistance is being implemented by the African Development Bank (AfDB).
This collaboration is part of the Green Infrastructure Banks Financing Initiative that is funded by a USD2.1 million project preparation grant provided by MCDF in 2023 and updated to include CAM in 2024, as requested by AfDB. It seeks to enhance the institutional capacity of CAM and Commercial International Bank (CIB), a commercial bank in Egypt, to identify, finance, and monitor green and climate-resilient infrastructure project pipelines, in partnership with AfDB.
The technical assistance for CAM is focused on enabling it to finance renewable energy, transport, and telecommunications infrastructure and deliver connectivity that is aligned with Morocco’s Nationally Determined Contribution under the Paris climate agreement, Low-Carbon Development Strategy to 2050, and Generation Green 2020-2030.
CAM representatives at the launch event underscored the significance of the MCDF-supported technical assistance for strengthening CAM’s role as a leading financial institution serving the agricultural and rural sectors, while expanding its green finance offerings and promoting Morocco’s sustainable development.
AfDB’s launch participants highlighted the strategic importance of the national green finance vehicles to be established via CAM in Morocco and via CIB in Egypt for mobilizing domestic and international capital needed to accelerate climate-resilient infrastructure and connectivity growth in North Africa.
Representing MCDF at the launch event, Ms. Monde Nyambe, Senior Investment Specialist – Infrastructure, said that the participation of developing country financiers, or New Partners, such as CAM and CIB, in MCDF-supported project preparation, capacity building, and information-sharing is central to MCDF’s mission to promote sustainable, high-quality connectivity investment through partnerships.
“Complementing institutional reforms with practical, implementation-oriented technical assistance is a key step toward translating development strategies into bankable projects that can build sustainable and climate-resilient connectivity in North Africa and beyond,” Ms. Nyambe added.
Caption for photo above: (from left to right): Ms. El Baijouni Ihssane and Ms. Belahsen Sara, Crédit Agricole du Maroc Group (GCAM), Mr. Mouaffak Amine, African Development Bank (AfDB), Ms. Nyambe Monde, Senior Investment Specialist – Infrastructure, MCDF, Mr. Chehhar Mustapha and Ms. Taimouri Lamya, GCAM, Mr. Rais Wadii, AfDB
Contact
David Hendrickson
Senior Communications Officer
Mobile: +86 185 0114 6758
david.hendrickson@themcdf.org
