World Bank allocates $265M for Morocco project
The World Bank's Board of Executive Directors has approved a $265 million financing package for the EFRASHA pump-storage hydroelectric project in Morocco. The project aims to make a 300-megawatt power plant function as a giant battery for the national grid, contributing to a reduction of 1.7 million tons of carbon dioxide emissions annually and creating approximately 820 jobs during construction. The initiative will help integrate renewable energy sources and stimulate private sector investments in Morocco.
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