EBRD and ANP promote climate resilience of Moroccan port sector

17-05-2022
EBRD
EBRD
Copyright: EBRD

The European Bank for Reconstruction and Development (EBRD) is enhancing the climate resilience of ports along Morocco’s Atlantic coastline by providing a €40 million loan to Agence Nationale des Ports (ANP).

The loan is the first to a Moroccan state-owned entity without a sovereign guarantee. It will comprise two tranches: a €15 million committed loan and €25 million of uncommitted capital. The loan will be supplemented by an investment grant of US$ 5.7 million from the Global Environment Facility (GEF).

The EBRD will also furnish ANP with a comprehensive technical capacity package, funded by a US$ 500,000 grant from the GEF and a US$ 1 million grant from the Bank itself. The package aims to provide systematic support for the climate resilience of Moroccan ports. It will lead to the establishment of a working group, comprising key stakeholders in the Moroccan port sector, to facilitate informed and climate-aware decision-making, as well as better environmental management and standards for ANP.

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Press release