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Rabat – Morocco’s CDG Development and the French Development Agency (AFD) are joining forces to contribute to the implementation of the New Development Model (NDM).
AFD will assist Morocco in the development of a long-term decarbonization strategy, as part of the memorandum of understanding it signed with CDG Development.
The agreement was signed on the sideline of the visit of AFD’s CEO Remy Rioux.
The two public development banks, AFD and the CDG Group, enjoy a remarkable relationship based on historical partnerships in key strategic sectors such as urban planning, green finance, and industrial development, they said in a joint statement.
The two institutions seek to decarbonize the business areas of MEDZ, a subsidiary of CDG Development.
MedZ, which specializes in the development of business parks, is aligned with the Moroccan government’s plan for higher turnovers in the chemical and para-chemical industries, and is expected to reach MAD 100 billion ($10billion) by 2023.
The two institutions also vowed to boost cooperation between Morocco and France in different sectors, with a focus on developing the Moroccan health system and promoting the sustainable and inclusive approach of Morocco’s NDM.
Read also: AFD Supports Morocco’s Long-Term Decarbonization Strategy
“CDG Developpement has initiated measures to mitigate the impacts induced by the activity of its business parks, particularly in terms of the design and development of new sustainable projects, energy efficiency in buildings and wastewater and waste management,” CDG Development’s Director Omar Elyazghi said.
He added that the two banks will be able to implement joint operations aimed at developing the hospital offer at the provincial and regional levels as part of its 2025 Health Plan.
Meanwhile, Mihoub Mezouaghi, director of AFD in Morocco, said that the North African kingdom is “AFD’s first partner, and our commitments from 2017 to 2021 have reached €2.2 billion.”
Mezouaghi expressed readiness to help Morocco achieve its decarbonization goals, while contributing to the improvement of the country’s healthcare sector.
Both institutions aim to enhance and protect human capital, contribute to the attractiveness of the territory, support energy and ecological transitions, and adapt to climate change.
