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Morocco's King Launches 'Green Generation 2020-2030'

King Mohammed VI. Photo credit: MAP
King Mohammed VI. Photo credit: MAP
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Morocco's King Launches 'Green Generation 2020-2030'

King Mohammed VI. Photo credit: MAP
King Mohammed VI. Photo credit: MAP

Morocco's King Mohammed VI has led a ceremony to launch the new development strategy for the agricultural sector dubbed “Green Generation 2020-2030” in the province of Chtouka Ait Baha.

The strategy seeks to push 400,000 households to the middle class by encouraging young people to invest in one million hectares of arable lands and the creation of 350,000 jobs, Minister of Agriculture, Fisheries, Rural Development, Waters, and Forests Aziz Akhannouch said.

The plan aims to increase agricultural exports to MAD60 billion (USD6.4 billion) and the agriculture Gross Domestic Product (GDP) to MAD250 billion (USD26.5 billion) by 2030.

The new program involves improvement in the distribution process of agricultural products through the modernization of 12 wholesale and traditional markets, said Akhannouch.

A strategy on protecting forests was also launched at the same event on Friday.

Akhannouch affirmed that Moroccan forests were at stake because of the loss of 17,000 hectares of tree cover every year.

This new strategy aims to make forests a space for development. It plans by 2030, to replant 133,000 hectares of forests and to create 27,500 additional jobs, in addition to improving the revenues of ecotourism to reach an annual market value of MAD5 billion (USD532 million).

King Mohammed VI also launched the construction works of the irrigation network at Agadir’s seawater desalination station. The construction of the station is currently 65 percent complete. The unit will initially produce 275,000 cubic meters of drinking water per day, while the rest will be for irrigation.

Besides the two national strategies, the King launched a project to plant 100 hectares of argan trees in the commune of Imi Mgrouren for a budget of MAD1.8 million. The program, costing around MAD28 million (USD 3 million), will benefit 729 people from seven communes of the region.

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US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
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US Treasury Targets Russia's Gazprombank with New Sanctions

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo
FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, January 20, 2023. REUTERS/Kevin Lamarque/File Photo

The United States imposed new sanctions on Russia's Gazprombank on Thursday, the Treasury Department said, as President Joe Biden steps up actions to punish Moscow for its invasion of Ukraine before he leaves office in January.
The move, which wields the department's most powerful sanctions tool, effectively kicks Gazprombank out of the US banking system, bans its trade with Americans and freezes its US assets, Reuters reported.
Gazprombank is one of Russia's largest banks and is partially owned by Kremlin-owned gas company Gazprom. Since Russia's invasion in February 2022, Ukraine has been urging the US to impose more sanctions on the bank, which receives payments for natural gas from Gazprom's customers in Europe.
The fresh sanctions come days after the Biden administration allowed Kyiv to use US ATACMS missiles to strike Russian territory. On Tuesday, Ukraine fired the weapons, the longest range missiles Washington has supplied for such attacks on Russia, on the war's 1,000th day.
The Treasury also imposed sanctions on 50 small-to-medium Russian banks to curtail the country's connections to the international financial system and prevent it from abusing it to pay for technology and equipment needed for the war. It warned that foreign financial institutions that maintain correspondent relationships with the targeted banks "entails significant sanctions risk."
"This sweeping action will make it harder for the Kremlin to evade US sanctions and fund and equip its military," Treasury Secretary Janet Yellen said. "We will continue to take decisive steps against any financial channels Russia uses to support its illegal and unprovoked war in Ukraine."
Gazprombank said Washington's latest move would not affect its operations. The Russian embassy in Washington did not respond to requests for comment.
Along with the sanctions, Treasury also issued two new general licenses authorizing US entities to wind down transactions involving Gazprombank, among other financial institutions, and to take steps to divest from debt or equity issued by Gazprombank.
Gazprombank is a conduit for Russia to purchase military materiel in its war against Ukraine, the Treasury said. The Russian government also uses the bank to pay its soldiers, including for combat bonuses, and to compensate the families of its soldiers killed in the war.
The administration believes the new sanctions improve Ukraine's position on the battlefield and ability to achieve a just peace, a source familiar with the matter said.
COLLATERAL IMPACT
While Gazprombank has been on the administration's radar for years, it has been seen as a last resort because of its focus on energy and the desire to avoid collateral impact on Europe, a Washington-based trade lawyer said.
"I think that the current administration is trying to put as much pressure and add as many sanctions as possible prior to January 20th to make it harder for the next administration to unwind," said the lawyer, Douglas Jacobson.
Officials in Slovakia and Hungary said they were studying the impacts of the new US sanctions.
Trump would have the power to remove the sanctions, which were imposed under an executive order by Biden, if he wants to take a different stance, Jacobson said.
After Russia's invasion in 2022, the Treasury placed debt and equity restrictions on 13 Russian firms, including Gazprombank, Sberbank and the Russian Agricultural Bank.
The US Treasury has also worked to provide Ukraine with funds from windfall proceeds of frozen Russian assets.