Cities and regions across the world are facing unprecedented environmental challenges – Morocco is no exception. Investing in sustainable infrastructure in Morocco will catalyse growth and ensure cities and regions are places that work for people and the environment. But how should sustainable infrastructure be financed? What are the key barriers to delivering sustainable infrastructure and how can these be addressed?

The EBRD Green Cities in Morocco event brought together 64 city and regional leaders, technical experts and decisionmakers on Thursday 5 September 2024 to consider these issues. The day featured three panels that explored financing levers and opportunities for sustainable infrastructure projects, technical assistance for sustainable infrastructure delivery and the use of municipal bonds.

These sessions brought to light the challenges that urban areas in Morocco are facing in relation to drought, climate change and water stress. The event also showcased successes in cities like Agadir and Rabat, where municipalities have delivered transport, green energy and water security projects. It was widely acknowledged that cities and regions should build on these successes and leverage the momentum that they have created to enable further investment and delivery. As expressed by Sue Barrett, Director at EBRD and keynote speaker, the EBRD’s ambition is to support more of these kinds of investments in sustainable urban infrastructure in Morocco to be able to welcome more Moroccan cities into the EBRD Green Cities programme and support the transition towards a more sustainable future for Morocco’s citizens.

Participants identified project participation and funding as the key challenges in financing infrastructure projects. They also highlighted water, waste and transport as key areas where technical assistance and institutional capacity building is needed. City and region leaders expressed a strong appetite for cross-city and cross-regional collaboration under the Open Government National Action Plan 2024 – 2027, which creates a shared national vision for sustainable development in Morocco. This vision opens the door for cross-regional collaboration and planning, to enable investment and delivery of sustainable infrastructure projects.

The event showcased a wide range of financial tools available to fund sustainable infrastructure projects, including commercial loans,, bonds, and securitisation . These flexible tools can be applied to a wide range of projects, across scales, and can strengthen investor confidence and investment capacity. Furthermore, EBRD initiatives including the Green Cities Programme and the Financial and Operational Performance Implementation Programme (FOPIP) can provide further support for cities delivering sustainable infrastructure.

The EBRD would like to thank all of the attendees and invited guests:

Keynote

• Sue Barrett, Director, European Bank for Reconstruction and Development (EBRD)
• Mbarka Bouaida, President of the Guelmim-Oued Noun region
• Rachid El Abdi, President of the Rabat Sale Kenitra region
• Mustapha Bouderka, First Vice President of Agadir municipality

Panel 1: Financing Sustainable Infrastructure

• Lbachir Benhmade, Vice-Président of Agadir municipality
• Raachid El Abdi, President of the Rabat Sale Kenitra region
• Antoine Sallé de Chou, Country Director for Morocco, EBRD

Panel 2: Technical Assistance for Sustainable Infrastructure

• Tali Trigg, EBRD
• Dima Zogheib and Nick Merridew, Arup
• Zakaria Oulad, Agadir municipality

Deep Dive: Municipal Bonds as an Effective Financing Tool for Sustainable Infrastructure Project

• Lbachir Benhmade, Agadir municipality
• Leila Regragui, AMMC (Moroccan Capital Markets Authority)
• Nathalie Laroussé, EBRD

Event moderator:

• Nadra Moumna, EBRD

We also thank our sponsors, ENVITECC, EFSD, The Netherlands through HIPCA and GCF for their support in EBRD and EBRD Green Cities projects in Morocco.

To become an EBRD Green City, contact us at: [email protected]