Development of Argan orchards in Degraded Environment - DARED (GCF-FP022)

Countries
  • Morocco
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 1, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Agency for the Development of Oases and Argan Zones (ANDZOA)
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • Climate and Environment
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 39.30 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 49.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Jul 29, 2020


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Project Description

Supporting rural communities in the Argan Biosphere Reserve through the planting of argan orchards and the promotion of sustainable arganiculture to foster sustainable development, build resilience and support climate mitigation.
The argan forest of Morocco, covering 2.5 million hectares, is recognised by UNESCO as a Biosphere Reserve with a rich biodiversity. There has been a aEœmarket boomaE? in argan oil, and its rising demand has improved household income for local communities but generated serious pressure on the natural forest, threatening its sustainability. The forest is also threatened by the impact of climate change upon its regeneration.
Morocco committed within its INDC to reduce its Greenhouse Gases (GHG) emission by 32% by 2030 through mitigation activities. Morocco intends to plant 43,000 hectares of argan tree orchards and promote arganiculture as a priority activity to reduce GHG emissions. This project will strengthen the resilience of rural communities and the arganeraie biosphere reserve through planting 10,000 ha of argan tree orchards with soil conservation and rain water harvesting capabilities. Supporting argan plantations and arganiculture will also contribute to relieve the anthropic pressure on the natural forest, and improve livelihoods of the communities by moving from a model of fruit collection from natural forests towards sustainable forest co-management.

Investment Description
  • Green Climate Fund (GCF)
Contact Information

Agency for Agricultural Development of Morocco (ADA)
Mr. Hamid Felloun
Tel: +212 6 61 11 02 42 / +212 5 37 57 37 51

Ms. Meryem Andaloussi
Tel: +212 6 61 56 57 81 / +212 5 37 57 38 13

 

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