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Monday, July 15, 2024

EBRD President: Green Hydrogen, an Opportunity to Climate Objectives in Morocco

Green hydrogen is an opportunity to achieve climate objectives in Morocco, EBRD President Odile Renaud-Basso said Thursday in Marrakech.

“I think we need to step up our investments to strengthen mobilization of the private sector and to support innovation in the countries in which we operate, in particular Morocco where green hydrogen is a great opportunity and a large part of the solution for the future,” Ms. Renaud-Basso pointed out at a press conference held as part of the EBRD’s 31st Annual Meeting.

Asked about the main measure of the Bank’s future energy policy for green, inclusive and resilient development that focuses on green objectives, Ms. Renaud-Basso highlighted the role of renewable energies in addressing climate change as a “very important” part of the solution, especially with regard to the issue of energy security.

“An important dimension of our activity in this area is energy efficiency,” she said, noting that saving energy and being more efficient is of paramount importance, particularly in some countries where the EBRD operates.

Energy efficiency of buildings in the industrial sector will also be more important than ever for the green agenda, she added.

Referring to the example of Morocco, she welcomed the “extremely good” partnership that exists with local banks, noting that all types of financing that exist in the EBRD’s range of intervention are present in Morocco, namely the financing for the greening of economic activity, for women and the development of SMEs as well as the facilitation of digital projects for the benefit of young people.

In addition, the EBRD President noted, through her various contacts with economic actors, a very strong interest of all economic stakeholders to develop their activities, already present in sub-Saharan Africa.

Placed under the High Patronage of HM King Mohammed VI, the 31st Annual Meeting of the EBRD, which ended Thursday in Marrakech, was attended by representatives of the 73 countries and institutional shareholders of the Bank, including Morocco.

The event was held under the theme “Responding to Challenges in a Turbulent World”.

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