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Pioneering sustainable and gender-equal mining: EBRD’s €13.6 million loan to Procaneq

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The recent partnership between the European Bank for Reconstruction and Development (EBRD) and Moroccan mining services company Procaneq is a significant step towards promoting environmental sustainability and gender equality in the mining industry. Here’s a closer look at the key aspects of this collaboration:

Environmental responsibility

  • Funding for green technology: The EBRD is providing a €13.6 million loan to Procaneq. This funding will be used to acquire energy-efficient equipment that significantly reduces diesel consumption and CO2 emissions. This investment aligns with global efforts to minimize the environmental impact of industrial activities.
  • Eco-friendly practices: By adopting state-of-the-art machinery, Procaneq aims to implement greener mining practices, which is crucial given Morocco’s vast phosphate reserves. The reduction in emissions will contribute to lower environmental pollution and a smaller carbon footprint.

Gender equality

  • Promoting female employment: The partnership emphasizes the hiring of female equipment operators. This initiative aims to break down traditional gender barriers in the mining sector, creating more opportunities for women and promoting a diverse and inclusive workforce.
  • Advocacy for gender equality: The EBRD will support Procaneq in advocating for stronger legal frameworks that promote gender equality in the mining industry. This includes pushing for policies that create a level playing field for women, ensuring fair treatment and opportunities.

Broader impact on Morocco

  • Significance for Morocco: Morocco, home to the world’s largest phosphate reserves, stands to benefit greatly from this partnership. The country is already a leading phosphate exporter through its state-owned OCP group, and this initiative showcases Morocco’s commitment to environmental stewardship and social responsibility.
  • Economic and Technical Support: Beyond financial support, the EBRD will provide technical assistance to help Procaneq improve its reporting and information systems. This will enhance the company’s operational transparency and efficiency, contributing to the broader economic development of the region.

EBRD’s commitment

  • Long-term investment in Morocco: The EBRD has been active in Morocco since 2012, investing over €4.6 billion in various projects. This ongoing commitment highlights the bank’s dedication to fostering sustainable development and economic growth in the region.

This collaboration sets a precedent for how industrial sectors can balance economic growth with environmental and social responsibilities, paving the way for more inclusive and sustainable practices in the mining industry.

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