Durban – Morocco and the World Bank (WB) signed, on Wednesday in the South African city of Durban, agreements relating to loans amounting to 297 million dollar to help finance the Ouarzazate concentrated solar power plant project.Two hundred million dollars of the loan will be granted by the World Bank’s fund that lends to middle-income countries, while the remaining 97 million will come from the WB Clean Technology Fund.
The loan will enable Morocco to achieve a 500 megawatt solar project plant as the first phase of a national solar power project.
The agreements were signed on the sidelines of the 17th Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change (UNFCCC), held in Durban from November 28 until December 9.
