Rabat — Morocco is advancing its climate initiatives by fostering stronger partnerships between the public and private sectors, a key strategy for addressing the financial and technological challenges of climate change.
Speaking at the fourth edition of Climate Day, Finance Minister Mohamed Benchaaboun emphasized the need for collaboration to mobilize resources, share risks, and promote the transfer of knowledge and technology.
Central to Morocco’s climate strategy is the Mohammed VI Fund for Investment, which Benchaaboun highlighted as a key tool for promoting sustainable development.
With an initial capital of 15 billion dirhams (around $1.5 billion), the Fund is intended to boost infrastructure development and strengthen the role of the private sector.
A significant portion of the Fund’s resources will be dedicated to sustainable infrastructure projects and the energy transition.
Benchaaboun also noted the importance of modernizing the national electricity grid and accelerating decarbonization efforts by expanding renewable energy sources, particularly solar and wind.
“Encouraging innovation and fostering partnerships between governments and businesses are essential steps for increasing green energy production,” he said, stressing the need for technological advancements and workforce development to meet climate targets.
Chakib Alj, President of the General Confederation of Moroccan Enterprises (CGEM), emphasized the broader economic and social benefits of the energy transition.
Alj pointed out that electrification efforts present an opportunity for Africa to build energy infrastructure that supports sustainable development.
He also highlighted Morocco’s progress in rural electrification, where access to electricity in rural areas has significantly increased over the past 27 years through a comprehensive national program.
Tarik Ameziane Moufaddal, Chairman and CEO of the Moroccan Agency for Sustainable Energy (MASEN), underscored the role of renewable energy in addressing climate challenges.
Since its establishment in 2009, MASEN has been responsible for driving Morocco’s renewable energy initiatives, with the goal of achieving a 2030 energy mix in which at least 52% of installed capacity comes from renewable sources.
The Climate Day event, held at the historic Chellah in Rabat, brought together over 300 participants from the public and private sectors, as well as international organizations.
