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Morocco Pledges to Transition to Renewable Energy as it Aligns with Royal Vision

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Shivani Chauhan
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Morocco Pledges to Transition to Renewable Energy as it Aligns with Royal Vision

In a recent address at the Chamber of Councillors, Faouzi Lekjaa, the Delegate Minister in charge of the Budget at the Ministry of Economy and Finance emphasized the importance of aligning with the strategic vision outlined by the Moroccan royalty. He underscored the necessity for all stakeholders to work towards embodying the vision and aspirations set forth by the royalty through successive financial laws.

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Envisioning an Advanced Morocco

Lekjaa highlighted the critical question of assessing the extent to which finance laws have contributed, or will contribute, to the construction of an advanced and developed Morocco, which he views as a notable exception in a region often plagued by turmoil. The minister's emphasis on financial laws points to a broader initiative to foster economic stability and growth in the nation.

Transitioning to Renewable Energy

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On the energy front, Morocco has ambitious plans to secure more than half of its energy needs from renewables in the next seven years. The nation aims to join the Powering Past Coal Alliance, an international coalition of 60 national governments united by the desire to transition away from coal-fired power generation. This is a significant move considering that about 70% of Morocco's electricity is currently generated from coal.

Building Resilient Infrastructure

In a bid to support Morocco's reconstruction efforts following an earthquake, the European Investment Bank has pledged to lend the country 1 billion euros over the next three years. This loan aims to strengthen the country's resilience and sustainability, with a particular focus on developing resilient and sustainable infrastructure. This initiative aligns with Morocco's broader vision of building an advanced and developed nation.

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