AfDB Launches $1M Green Finance Boost for Morocco’s Crédit Agricole

“This partnership confirms the ability of African institutions to play a strategic role in financing ambitious climate projects,” said Achraf Tarsim, AfDB Group Country Manager for Morocco.

The African Development Bank Group (AfDB) has launched a $1 million technical assistance program to strengthen green finance capacity at Crédit Agricole du Maroc Group (GCAM)—a move aimed at accelerating Morocco’s climate transition and unlocking greater flows of concessional and private capital into high-impact green projects.

The initiative, launched on 28 January, is delivered through the African Green Banks Initiative and the Multilateral Cooperation Center for Development Finance, and positions GCAM as a key national vehicle for scaling climate-aligned investment.

Building a National Green Finance Champion

The technical assistance will enhance GCAM’s institutional, operational and financial capabilities, enabling the bank to:

• Access concessional and private climate finance

• Identify, structure and finance green and climate-resilient projects

• Monitor and report on climate impact in line with international standards

Target sectors include sustainable agriculture, rural development, water management, clean energy, resilient infrastructure and connectivity—areas central to Morocco’s long-term development and climate resilience.

“This partnership confirms the ability of African institutions to play a strategic role in financing ambitious climate projects,” said Achraf Tarsim, AfDB Group Country Manager for Morocco. “With its structural achievements, Morocco has become a benchmark for green finance across the continent.”

Expanding the Scope of Green Investment

GCAM leadership said the program reinforces the bank’s role as a national leader in green finance while broadening its reach beyond traditional sectors.

“Through this initiative, Crédit Agricole du Maroc is consolidating its leadership in green finance and expanding beyond agriculture and the rural economy,” said Mustapha Chehhar, Deputy General Manager of GCAM. “We are now supporting strategic investments in resilient infrastructure and connectivity that are essential to Morocco’s climate transition and sustainable development.”

Aligning Finance with Climate Commitments

The program supports Morocco’s Nationally Determined Contribution (NDC) and strengthens the alignment of national financial flows with climate priorities. It also lays the groundwork for increased access to international climate finance and greater mobilisation of private capital for large-scale, transformational projects.

The initiative aligns with AfDB Group President Dr. Sidi Ould Tah’s Four Cardinal Points, which emphasize:

• Mobilising Africa’s financial resources

• Reforming and strengthening financial systems

• Leveraging population growth

• Investing in climate-resilient infrastructure that delivers tangible value

A Long-Standing Partnership

Since 1978, the African Development Bank Group has mobilised nearly €15 billion for more than 150 projects and programmes in Morocco, spanning transport, water and sanitation, energy, agriculture, social protection, governance and finance.

Call to Action: Scaling Green Finance in Africa

For financial institutions, investors and policymakers, the GCAM program offers a replicable model for building national green finance intermediaries capable of crowding in private capital and delivering climate impact at scale.

As climate finance demand accelerates across Africa, the AfDB’s message is clear: strong domestic financial institutions are essential to turning climate ambition into bankable, investable reality.