AfDB Launches $1M Green Finance Technical Assistance Programme for Crédit Agricole du Maroc

The initiative reflects the growing emphasis on aligning national financial systems with international climate finance standards and accelerating Africa’s transition toward sustainable development.

The African Development Bank Group (AfDB), through the African Green Banks Initiative and the Multilateral Cooperation Center for Development Finance, on 28 January launched a $1 million technical assistance programme to strengthen the green finance capabilities of Crédit Agricole du Maroc Group (GCAM).

The programme is designed to enhance GCAM’s institutional, operational and financial capacities, enabling the Moroccan banking group to mobilise concessional and private capital, identify and structure bankable green projects, and improve systems for monitoring climate impact. The initiative reflects the growing emphasis on aligning national financial systems with international climate finance standards and accelerating Africa’s transition toward sustainable development.

Supporting High-Impact Green Sectors

Under the technical assistance programme, GCAM will focus on financing projects across high-impact sectors, including sustainable agriculture, rural development, water resource management, clean energy, resilient infrastructure and digital and physical connectivity. These sectors are central to Morocco’s climate adaptation and mitigation agenda and are considered critical for enhancing economic resilience in the face of climate change.

A core component of the programme is the alignment of GCAM’s funding practices with international climate finance norms, a step expected to improve the bank’s access to global climate funds while strengthening transparency and impact reporting.

Morocco’s Growing Leadership in Green Finance

Speaking at the launch, Achraf Tarsim, the African Development Bank Group’s Country Manager for Morocco, highlighted the country’s growing role in shaping Africa’s green finance landscape.

“This partnership between the African Development Bank Group and the Crédit Agricole du Maroc Group confirms the ability of African institutions to play a strategic role in financing ambitious climate projects,” Tarsim said. “With its high-impact structural achievements, Morocco has consolidated its position as a benchmark country for green finance right across the continent.”

Morocco has in recent years expanded its investments in renewable energy, water security and climate-resilient infrastructure, positioning itself as a regional leader in sustainable finance and climate policy implementation.

Expanding GCAM’s Green Finance Mandate

For GCAM, the programme marks a significant step in broadening its traditional focus beyond agriculture and rural financing. Mustapha Chehhar, Deputy General Manager of Crédit Agricole du Maroc Group, said the initiative reinforces the bank’s strategic evolution.

“Through this initiative, the Crédit Agricole du Maroc Group has consolidated its leadership in green finance and is gradually expanding its area of intervention beyond agriculture, agribusiness and the rural world,” Chehhar said. “It will also support investments in strategic sectors such as resilient infrastructure and connectivity, in support of the climate transition and the sustainable development of Morocco.”

This expansion is expected to strengthen the bank’s role in financing large-scale, climate-aligned projects with long-term economic and social benefits.

Advancing Climate Commitments and Mobilising Capital

The programme also contributes directly to Morocco’s compliance with its Nationally Determined Contribution (NDC) under the Paris Agreement. By strengthening the alignment of national financial flows with climate priorities, the initiative aims to unlock international climate finance and attract private capital for transformative, climate-resilient infrastructure and development projects.

In addition, the technical assistance aligns with African Development Bank Group President Dr. Sidi Ould Tah’s Four Cardinal Points, which focus on mobilising Africa’s financial resources, reforming and strengthening financial systems, leveraging population growth, and investing in climate-resilient infrastructure that delivers tangible development impact.

A Longstanding Partnership

The new programme builds on decades of cooperation between Morocco and the African Development Bank Group. Since 1978, the Bank Group has mobilised nearly €15 billion to finance more than 150 projects and programmes across the country. These interventions span key sectors including transport, social protection, water and sanitation, energy, agriculture, governance and finance.

As Morocco deepens its climate transition, the AfDB–GCAM partnership is expected to play a critical role in scaling green finance solutions and reinforcing the country’s position as a continental reference point for sustainable and climate-resilient development.