European Bank considers $105M loan for aircraft fuel plant
The European Bank for Reconstruction and Development announces a study to grant a loan of $105 million to fund the construction of a sustainable aviation fuel plant in the Nador region of Morocco. The project aims to produce 200,000 tons of aviation fuel annually using the "Vegan" technology to convert residual oils and fats, relying on local collection of used oils and importing materials when needed. The plant is planned to cover an area of 88,000 square meters and is expected to support the local economy and diversify energy sources, along with a training program for staff and initiatives to promote women's participation. Approval of the final loan agreement has been paused until the administrative processes are completed, and additional funding of up to $20 million from the Green Climate Fund may be included.
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