MOROCCO - Project to Support the Inclusive and Sustainable Development of Forest Areas (PADIDZOF) — Morocco

Overview

The total cost of the program, excluding VAT, is estimated at €115.2 million, including €84 million from the AfDB and €31.2 million from the authorities. Taken independently, ADB financing represents 72.9% of the program. However, this program has been designed to complement the EIB's €100 million Forest Project (a project to promote the inclusive and sustainable management of Morocco's forests). The EIB's involvement is planned for 4 other regions (Fès-Meknès, Orientale, Draa Tafilelt and Béni Mellal Khénifra). Against this backdrop, AfDB financing will account for just 39.0% of ANEF actions financed in 2023-2024, the remainder being covered by the Moroccan government (14.3%) and the EIB (46.6%). Lastly, the program's financing should be seen in the context of ANEF's budget, which will be allocated DH3.396 billion in 2022 and DH3.144 billion in 2023. The ADB financing corresponds to 5.9% of ANEF's budget over the period 2024-2029. This project primely contributes towards climate adaptation result. As such 100% of the total approval is attributed as climate finance, out of which 100% is adaptation finance.