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Rabat – The 31st annual meeting for the European Bank for Reconstruction and Development (EBRD) is taking place this year in Morocco’s Southern Pearl, Marrakech, according to a press release.
Scheduled between May 10 – 12, the meeting is traditionally paired with a Business Forum, marking it the biggest event on the bank’s annual agenda.
The three-day forum attracts financial corporate executives from the global business landscape and government officials to contribute to panel discussions.
The focus of the forum will be to highlight Morocco’s potential as a go-to business destination. Morocco’s green vision and inclusive development will also be a focal point for the forum.
After two years of virtual meetings, the event is finally set to take place in person in Marrakech.
The event comes months after the Glasgow COP26, where the bank pledged to help developing countries build a greener future.
The EBRD has ambitious green plans. It pledges to increase green investment by more than 50% in 2022.
The European development bank in partnership with the European Union raised over €250 million (MAD 2,622 billion) in 2021 to help Morocco’s transition towards a greener economy amid the economic fallout of the COVID-19 pandemic.
Morocco is now home to the world’s largest solar panel plant, Noor Complex Solar Power Plant, located in Morocco’s Sahara Desert. By 2030, the North African country pledged to reduce greenhouse emissions by 42%.
In December 2021, Morocco set up higher green ambitions for 2050, announcing plans to source 80% of electricity from renewable sources.
The plans come at a critical time in the fight against climate change, especially in Africa. Despite accounting for only 4% of global emissions, experts estimate that Africa will be the hardest hit by climate change-induced droughts.
Read Also: Morocco Creates New ‘War Room’ to Promote Green Economy Projects
