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Join on Telegram Rabat — Morocco’s Minister of Energy Transition and Sustainable Development, Leïla Benali, held a series of high-level meetings focused on climate finance and investment during the Climate Leaders Summit in Belém, Brazil, ahead of COP30.
Benali met with Mafalda Duarte, Executive Director of the Green Climate Fund (GCF), to discuss ways to strengthen the strategic partnership between Morocco and the Fund through a new country program centered on implementing the country’s updated Nationally Determined Contributions (NDC 3.0).
The program aims to promote projects that combine economic efficiency, financial viability, and positive environmental and social impacts from climate action.
During their discussion, Morocco reaffirmed its strong interest in hosting a regional GCF office. The move aligns with the country’s efforts across Africa in climate action, sustainable finance, and South-South cooperation.
Benali spoke of the importance of leveraging Morocco’s innovative OTC Corridor initiative — which stands for Origination, Transit, and Certification.
The initiative positions Morocco as an African energy and logistics hub that can sustainably connect the continent’s economies to international markets.
She stressed that Morocco has all the necessary assets to establish itself as a regional center for green and sustainable finance, perfectly aligned with its national sustainable development and energy transition goals.
The minister also met with Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), to discuss climate finance mechanisms and the need to diversify funding sources beyond traditional channels for mitigation and adaptation projects under NDC 3.0.
The goal is to achieve decarbonization targets and strengthen the resilience of populations and vital sectors through a territorial approach that adapts resources to each region’s specific needs.
The meeting explored forms of technical assistance the IMF could provide Morocco in green budgeting and finance, as well as in quantitative climate stress analysis.
Benali also met with John W.H. Denton AO, Secretary General of the International Chamber of Commerce (ICC). Their discussions focused on strengthening cooperation between the ICC and Morocco in entrepreneurship, economic development, and investment promotion.
Denton commended the North African country’s achievements and particularly hailed the OCP Group, citing it as a model of high-performing public enterprise that illustrates Morocco’s successes in investment, profitability, and good governance.
He expressed keen interest in ICC participation at the Marrakech Mining Forum, noting Morocco’s strategic role in defending African interests and promoting sustainable industrial, mining, and energy transitions.
Benali noted that under the leadership of King Mohammed VI, the country’s economic and institutional progress results from more than three decades of sustained efforts and structural reforms.
The discussions also covered the OTC Corridor project and prospects for enhanced cooperation between the ICC and Morocco, with the aim of expanding existing partnerships to serve African continental development.
