Friday, November 15, 2024 at 1:31 p.m.
Baku – The Japanese Bank for International Cooperation (JBIC) reaffirmed its support for Morocco’s efforts in favor of sustainable socio-economic growth by targeting carbon neutrality, under a memorandum of understanding signed on Friday in Baku, on the sidelines of COP29.
Signed by the Minister of Energy Transition and Sustainable Development, Leila Benali, and the Governor of JBIC, Hayashi Nobumitsu, during a meeting held at the Morocco Pavilion, this partnership is part of the strengthening of cooperation connecting Morocco and Japan.
Under the terms of this memorandum of understanding, Morocco and JBIC undertake to consolidate their partnership in areas of common interest, in particular the energy transition, the production of renewable energies, as well as the transport and distribution of electricity. energy.
The partnership also covers waste management and the circular economy, adaptation to climate change, decarbonization of industrial supply chains, energy efficiency, regional integration, green hydrogen and its derivatives and use of artificial intelligence.
JBIC plans, through this agreement, to support Moroccan projects, in particular which contribute to Morocco’s energy transition.
The memorandum concerns cooperation in several sectors such as decarbonization, energy efficiency and sustainable growth, said Hayashi Nobumitsu in a statement to the press following this signing.
For her part, Ms. Benali welcomed the signing of this strategic partnership, emphasizing the Moroccan-Japanese public-private partnerships (PPP) which could be implemented in these areas.
She also underlined the importance of investments, particularly for networks, as well as in terms of R&D in the field of sustainable energy.
The 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (11-22 November) focuses primarily on climate financing, given the need to enable all countries to reduce greenhouse gas emissions and protect lives and livelihoods from the worsening effects of climate change, particularly for vulnerable communities.
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