Printer Friendly

Morocco Inclusive Green Growth DPL2.

Region: Middle East and North Africa

Approval Date (as of board presentation): December 18, 2015

Commitment Amount: US$ 300.00 million

Borrower: MINISTRY OF FINANCE

Sectors:

General energy sector 35%

General agriculture, fishing and forestry sector 20%

Water supply 20%

Agricultural extension and research15%

Other social services 10%

Operation Objectives :

A. Proposed Objective : The proposed DPL2 is the second in a programmatic series of two operations which supports the Governments green growth agenda. The Program Development Objectives are: (i) improving the management of natural capital; (ii) greening physical capital and (iii) strengthening and diversifying the rural economy by leveraging human capital.

B. Description :

Based on internal government consultations, the Bank and the Government have defined prior actions for each Program Development Objective.

o Program Development Objective 1: Improving the management of natural capital. This development objective supports the Governments effort to improve the management of natural resources. Natural assets make up a significant portion of Moroccos total wealth but could underpin growth in key sectors. A strengthened management of natural capital can yield more than positive environmental benefits: it will also ensure that sectors that intensively use natural resources - agriculture, fisheries, but also economic activities in coastal zones such as tourism- will be able to sustain and increase their growth potential. Therefore measures supported under this DPL series aim at improving management of coastal and marine assets and water sector governance.o Program Development

Objective 2: Greening physical capital. This objective supports the Governments program of reducing adverse environmental impacts of infrastructure investments and promoting low carbon growth. Investing now in an infrastructure base that puts Morocco on sustainable growth involves trade-offs in terms of extra-costs to economic agents, particularly in the short term. Energy is a major challenge in this respect: the country is currently too heavily dependent on fossil fuels and the projected increase in demand across different sectors(particularly transport, housing, industry and tourism) require significant additional investment in power generation capacity. The reforms carried out in this objective can yield global environmental benefits - renewable energy deployment contributing to climate change mitigation - but also more local, shorter-term benefits linked to improved health outcomes -stemming from reduced coal burning and decreased industrial pollution, as well as energy security. Providing the right price signals is a prerequisite to eliminate existing distortions in consumers and producers behavior, but needs to be accompanied with interventions to smoothen the transition for economic actors. Objective 2 is composed of two policy areas: low carbon growth and pollution management.

Project completion date : 2016-12-31 12:00:00

Major organization : MINISTRY OF ECONOMY AND FINANCE

Address : Rabat

Country :Morocco

Email : elamrani@mag.gov.ma,oucibles@db.finances.gov.ma,nbou@environnement.gov.ma

Url : www.finances.gov.ma/

Financier : World Bank (WB),

Financier address : World Bank (WB)

1818 H Street, NW

Washington, DC 20433

USA.

Phone: (202) 473-1000

Fax: (202) 477-6391

http://www.worldbank.org/

Contact: Andrea Liverani

Title: Program Leader

Tel: 5360+4290 / 212-537-544-290

Email: aliverani@worldbank.org

Contact: Maria Sarraf

Title: Lead Environmental Economist

Tel: 202 4730726

Email: msarraf@worldbank.org

[c] 2015 Al Bawaba (Albawaba.com) Provided by SyndiGate Media Inc. ( Syndigate.info ).
COPYRIGHT 2015 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Date:Dec 28, 2015
Words:520
Previous Article:Mahaveer Palatium.
Next Article:Foreign Direct Investment Promotion Project.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters