El Banco Mundial otorga un préstamo a Marruecos para el desarrollo de la economía azul
The World Bank has just approved a loan of a total value of 350 million dollars to Morocco. The Alawi country will briefly receive the grant, which will be used mainly to develop the launch of a blue economy programme. The North African nation will use the money to improve the coastal and marine ecosystem and all activities related to the sea.
The global institution stressed in a press release that the loan is mainly aimed at developing the country's institutional frameworks. It includes an upgrade of the integrated management of the Kingdom's natural resources, as well as a strengthening of some sectors of the maritime industry. The latter is in line with Morocco's vision in the fight against climate change. New sustainable projects that improve the quality of life in the territory and are less harmful to the planet will therefore be developed.
"This loan aims to stimulate job creation and economic growth, as well as improve sustainability, the resilience of natural resources and food security, a challenge whose importance has increased with the repercussions of the war in Ukraine," the institution says in the statement.
Morocco has embarked on a race to become a major player in the development of the blue economy and sustainability. This is one of the main pillars of the Maghreb kingdom's New Model of Development (NMD), which aims to increase national wealth, provide employment for its citizens and raise their standard of living.
The blue economy is a new economic model launched a few years ago that aims to produce goods and services for companies. In this sense, the blue economy aims to introduce this system in an environmentally friendly way without harming nature and the environment. This model is usually implemented mainly in coastal areas, where marine life and flora are respected, obtaining the same benefits, but in a more respectful way for the planet.
Jesko Hentschel, director of the World Bank's Maghreb operation, sees Morocco as an important player in this new economy because of its natural resources. "Bordered by the Mediterranean Sea and the Atlantic Ocean, Morocco has great potential for the development of the blue economy. Its coastal areas already account for more than half of the country's GDP and jobs, while there is great untapped potential in emerging sectors of the blue economy," says the director.
These sectors include activities such as aquaculture, seaweed farming, marine renewable energy and sustainable tourism. Aquaculture and seaweed farming are techniques in which experts breed aquatic species, both animals and plants. It is one of the main economic activities in food production and provides a sustainable way to reduce mass fishing.
In the case of marine renewable energy, Morocco could develop offshore wind energy platforms, floating solar photovoltaic platforms or even projects based on using the sea's energy to generate electricity, such as tidal power. With this, the Kingdom would increase its commitment to the environment and could stop relying on non-renewable energies. It would also be a key factor in the country's energy mix, which is becoming increasingly sustainable and is meeting the nation's climate change challenges.
"With its abundant marine and coastal resources, the Moroccan coast offers, at the end of the pandemic, prospects for employment and equitable recovery, and greater resilience to climate change," adds Marcelo Hector Acerbi, an environmental specialist.
For now, Morocco has confirmed that a number of projects will be carried out with the money raised. These include marine studies in Moroccan waters, the health of fish stocks, the quality of the country's coastline and measuring beach erosion through satellite imagery. Fourteen new aquaculture farms will also be set up, in particular shellfish and seaweed farming.
