Morocco wants to reduce its greenhouse gas (GHG) emissions by 45.5% by 2030, by increasing the share of renewable energy by 52% by 2025. In order to achieve this more safely, the authorities of this North African kingdom have just signed a new partnership with the European Union (EU) to finance the energy transition.

This EU investment worth €1.6 billion (nearly 18 billion Moroccan dirhams) over five years is part of the “Global Gateway”. This program aims to mobilize 300 billion euros over the period 2021-2027 for sustainable projects in the field of infrastructure, digital and climate between the EU and its partners.

The funds of the “Global Gateway” come from the European Union’s own resources (18 billion euros of subsidies), funding granted by the 27 Member States, as well as funds from European financial institutions (145 billion euros of investments) and national development institutions (135 billion euros), supported by private investments.