INCLUSIVE AND SUSTAINABLE FORESTS IN MOROCCO

Promoteur – Intermédiaire Financier

AGENCE NATIONALE DES EAUX ET FORETS

Lieu

• Maroc

Description

The project will support investments in national parks and watershed management, including infrastructure and institutional capacity, with a focus on mountainous regions. It will improve the population's living conditions, by reducing flood and erosion risks. It will also strengthen the ecosystems resilience to climate change and mitigate its effects through carbon sequestration.

Additionality and Impact

The forestry sector is impacted by the degradation and overexploitation of ecosystems, creating a growing threat to biodiversity. The sector is also far from making the potential contribution that it could have made to the economy if substantial resources were invested in it. Moreover, the market undervalues the production of environmental and ecosystem services, which results in a market failure in terms of the provision of public goods such as water, biodiversity , landscape or climate stability.

 

To address those challenges, the project will support the implementation by the Agence Nationale des Eaux et Forêts (ANEF) of the Forests Strategy 2020-2030. It will feature activities that improve deforestation-free and climate-smart ecosystem-based agricultural, livestock, fishing and forest management practices, strengthen the capacities of sector institutions and operators and support employment.

 

The EIB's involvement offers Morocco a highly flexible financial product, with, for example, flexible drawdowns and a longer grace and availability period. With the support of experienced consultants and the implementation of good governance policies, the promoter will be able to implement the project and operate the assets.

The project will contribute to Flagship Projects of the EU's new Agenda for the Mediterranean.

Objectifs

The aim is to sustainably manage natural resources, promote ecotourism and forestry value chains, to achieve the socio economic development of the population.

Commentaires

The project consists of a direct loan to the Kingdom of Morocco. It falls under the Investment Window 1 of the Global Europe-NDICI Mandate (Neighbourhood, Development and International Cooperation Instrument) - subject to the European Commission's confirmation of eligibility - and will benefit from the comprehensive guarantee 'on a fall-back basis' of the European Fund for Sustainable Development Plus (EFSD+). It is a flagship project, directly contributing to the Team Europe Initiative on Green Partnership. It will complement the EUD-funded "Terre Verte" project. It is also fully aligned with the NDICI Mandate and the EU New Agenda for the Mediterranean, especially the "Green transition: climate change resilience, energy and environment" Policy Area. The operation is a top priority for the Moroccan Government, in line with the New Development Model of Morocco, especially the first priority related to economic diversification, and the fourth priority on regional development for enhanced resilience and resource sustainability. It will directly contribute to the EU priorities in the country, especially to the first pillar of the proposed Multi-annual Indicative Programme (MIP) "Resilient and Sustainable Economy".

Secteur(s)

• Agriculture, pêche, sylviculture - Agriculture, sylviculture et pêche

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

EUR 244 million

Aspects environnementaux

The promoter has to comply with the EIB's environmental and social standards. According to the initial assessment, the project is expected to have a significant impact on gender equality, having the potential to create employment opportunities for women. This will be further assessed during the project appraisal phase, as well as opportunities to specifically promote a positive impact on gender equality, in line with EIB's policies. The project will contribute to the EIB's climate action and environmental sustainability objectives, in particular climate change adaptation, sustainable use and protection of water and marine resources, protection and restoration of biodiversity and ecosystems.

Passation des marchés

The promoter has to ensure that the project will be implemented in accordance with the EIB's Guide to Procurement.

Statut

Signé - 29/12/2023