· The French Development Agency (AFD) has signed an agreement with the Ministry of the Interior, Morocco to fund $237 million to promote climate resilience and reduce social disparities.
· Additionally, AFD has agreed to extend technical assistance, amounting to over $4.1 million.
The French Development Agency (AFD) has signed an agreement with the Ministry of the Interior, Morocco to fund $237 million to promote climate resilience and reduce social disparities. Additionally, AFD has agreed to extend technical assistance, amounting to over $4.1 million. The Agreement is part of a cooperative agreement between AFD, and the Communal Equipment Fund (FEC), under the Ministry of the Interior, Morocco.
Speaking about the Agreement, French Ambassador Helene Le Gal, remarked that the deal reflected the commitment to the Paris Agreements and the Moroccan Determined Contribution (CDN) at the national level. The agreement comes months before the start of the 2021 UN Climate Change Conference, COP26. A major concern expressed at the climate conferences is the low level of funding for developing countries to battle climate change.
According to reports, though developed nations had committed to providing at least $100 billion in funding to developing nations to fight climate change by 2020 the target has fallen short by $20bn. A UN report has warned that developing countries will have to combat higher exposure to climate hazards.
