EBRD Lends Morocco €120m For Water Conservation Project
The European Bank for Reconstruction and Development has lent Morocco €120 million to finance the Saïss Water Conservation Project that will help protect the country’s agricultural sector from the impact of climate change.
The project, which includes the construction of irrigation infrastructure, is being supported by a co-financing grant of €32 million from the Green Climate Fund (GCF).
In Morocco, extreme water scarcity is being exacerbated by the impacts of climate change, and the unsustainable use of groundwater is leading to a reduction in groundwater reserves, posing a severe threat to agricultural production and rural livelihoods.
The Bank says its investment in this water project will improve climate resilience with support for the development of a transformative water transfer scheme that will deliver more than 100 million cubic meters of irrigation water to the Saïss plain each year.