MOROCCO - Economic Governance and Resilience to Climate Change Support Program (GRCCP) - Phase I

Management hereby submits the proposal to award a loan of EUR 120 million to the Kingdom of Morocco, from the resources of the African Development Bank, to finance the first phase of the Economic governance and resilience to climate change support program(GRCCP). This programme is designed as a multi-sector policy-based operation covering the years 2024, 2025 and 2026. It is a response to a request made to the Bank by the Moroccan Government in April 2024. The programmatic approach adopted will allow the Bank and Morocco to deepen dialogue on strategic issues (restructuring of public enterprises, governance reforms in the water and electricity sectors, etc.), improve the sequencing of reforms and enhance the predictability of financing. The project contributes to climate finance, with 65 million USD of the total approved amount dedicated to adaptation.