Energy Security: Morocco Can Offer Real Opportunities at Regional Level (Minister)

Marrakech – Morocco, with its undeniable achievements in the field of renewable energy and its proximity to Europe, can offer real opportunities to strengthen energy security at the regional level, said Thursday in Marrakech, Minister of Economy and Finance, Nadia Fettah.

Speaking at the opening of a session of the Business Forum of the European Bank for Reconstruction and Development (EBRD), under the theme “Morocco Now: What prospects for energy transition?”, Fettah explained that “the Ukrainian crisis, and the tensions it has generated on the global energy market, confirms, now more than ever, that our future depends on renewable energy and the urgency of accelerating the energy transition”.

These are, in fact, the best alternative to cope, quickly, with the pressures on the supply of gas and oil and limit our exposure to rising prices of these resources, said Fettah.

“Morocco, fortunately, and thanks to the farsighted vision of His Majesty the King, has launched for years already, an ambitious strategy of energy transition aimed at diversifying its energy mix, strengthening energy efficiency and taking advantage of the potential of regional integration in the field of clean energy,” she recalled.

She added that this proactive strategy, while pursuing the achievement of concrete gains in productivity and efficiency, allows our country, today, to “serenely pursue its efforts to reduce greenhouse gas emissions and consolidate its resilience in terms of energy production, without mortgaging its ability to achieve its economic and social development projects”.

The European Bank for Reconstruction and Development’s Business Forum, held in conjunction with its 31st General Assembly, stands out as an ideal platform to explore investment opportunities and forge lasting business ties.

Placed under the High Patronage of HM King Mohammed VI, the EBRD’s 31st General Assembly, which runs until May 12 in Marrakech, brings together representatives of the Bank’s 73 countries and institutional shareholders, including Morocco.

The first in-person gathering of the EBRD since Sarajevo in 2019, this event, held under the theme “Meeting Challenges in a Turbulent World”, is an opportunity to discuss global challenges such as supporting economic growth, combating climate change and strengthening the business environment in the regions where the Bank invests.