AfDB grants $30 million facility to Mauritania’s GBM
The African Development Bank Group has approved a $30 million trade finance facility for the Générale de Banque de Mauritanie
Algeria has launched an ambitious $1 billion initiative to plant 420 million trees over the next ten years, according to a report in Arabian Gulf Business Intelligence.
The large-scale reforestation project is spearheaded and financed by state-owned oil and gas company Sonatrach, as part of the country’s wider push to combat climate change and promote sustainability.
“We are pinning high hopes on this unique forestation project to protect our environment,” Mustafa bin Amara, technical chief at Sonatrach told a seminar in the north-western city of Oran.
The trees will be planted across multiple regions in Algeria, the largest country in the Arab world by land area.
This effort supports Algeria’s broader environmental strategy, which aims to increase the share of renewable energy to nearly 30% of its total energy mix by 2035. In addition to tree planting, Algeria is advancing its green hydrogen ambitions and has sought international cooperation to help reach its clean energy targets.
Recently, the European Union and the German Federal Ministry for Economic Cooperation agreed to back Algeria’s renewable goals with $32 million in funding. According to Algeria’s energy ministry, the plan will strengthen technical and institutional capacities, lay the groundwork for renewable projects, and develop tools to grow the green hydrogen sector.
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