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Morocco advances climate finance and green partnerships at Belém summit
Morocco’s Minister of Energy Transition and Sustainable Development, Leïla Benali, spearheaded discussions on climate finance and strategic investment at the Climate Leaders Summit in Belém, Brazil, held ahead of COP30. Her efforts highlighted Morocco’s growing role in advancing sustainable development and regional cooperation.
Benali met with Mafalda Duarte, Executive Director of the Green Climate Fund (GCF), to explore opportunities for deepening the partnership through a renewed country program aligned with Morocco’s updated Nationally Determined Contributions (NDC 3.0). This program seeks to advance projects that merge economic efficiency with positive environmental and social outcomes. Morocco also expressed interest in hosting a regional GCF office to strengthen its position as a hub for sustainable finance and African climate action.
Key to these discussions was Morocco’s OTC Corridor initiative, Origination, Transit, and Certification, which aims to establish the country as a logistics and energy bridge between Africa and global markets. Benali emphasized that Morocco’s robust infrastructure and expertise uniquely position it to lead in green and sustainable finance.
Benali also held talks with Bo Li, Deputy Managing Director of the International Monetary Fund (IMF), focusing on diversifying funding sources for climate adaptation and mitigation projects. They explored IMF technical assistance in green budgeting and climate stress analysis, aiming to align resources with Morocco’s decarbonization and resilience goals.
Discussions with John W.H. Denton AO, Secretary General of the International Chamber of Commerce (ICC), revolved around bolstering collaboration in entrepreneurship, investment, and sustainable industrial development. Denton praised Morocco’s institutional progress and highlighted the OCP Group as a model of excellence in governance and profitability. He expressed interest in ICC participation in the Marrakech Mining Forum to further promote sustainable mining and energy transitions.
Benali underlined Morocco’s commitment to sustainable development under King Mohammed VI’s leadership, citing decades of structural reforms that have positioned the nation as a key player in African economic and environmental progress.