The World Bank has approved $265 million to support the Ifahsa pumped hydropower storage project. The project has an installed capacity of 300 MW and is located near Chefchaouen in Morocco. The project will enhance grid flexibility and enable the integration of at least 1 GW of additional solar and wind capacity. The project is also expected to attract around $1 billion in private investment while replacing approximately 3 TWh of fossil fuel-based electricity annually.
The project is projected to avoid 1.7 million tonnes of carbon emissions annually and create around 820 direct construction jobs annually. The World Bank’s financing for the project includes support from International Bank for Reconstruction and Development (IBRD), concessional funding from the Clean Technology Fund, and a grant from the Livable Planet Fund. The project is co-financed by the African Development Bank and will be implemented by Office National de l’Électricité et de l’Eau potable (ONEE).
In January 2026, the World Bank Group approved financing for the 1,125 MW Dorjilung hydropower project located on the Kurichhu river in eastern Bhutan.The approved financing package includes a $150 million grant and a $150 million credit from the International Development Association, a $15 million enclave loan from the International Bank for Reconstruction and Development to the Government of Bhutan.