Morocco Courts Private Capital for $27 Billion Water Plan [Bloomberg]
Morocco will rely on private capital to finance a plan that is part of an overall strategy to more efficiently and effectively allocate water for agricultural industry, and to lessen the dependence on subsidies:
Morocco will let private capital take the lead in developing desalination and irrigation projects as part of a $27 billion plan designed to lessen the stress on its water resources, Minister Charafat Afilal said.
The National Water Plan provides for an additional 5 billion cubic meters in water resources by 2030, as much volume as what flows over Niagara Falls in 24 days, the water minister said in an interview at her office in Rabat.
“The plan aims to address an expected rise in the national water deficit from 3 billion to 5 billion cubic meters in 2030,” Afilal said Sept. 19. The investment will maintain Morocco’s annual average for water availability at its current 700 cubic meters per capita as the population increases…[Full Story]