Rabat – The European Investment Bank (EIB) has confirmed its commitment to increasing Morocco’s development plans by its financing fund, including financing of € 500 million for 2024
In a statement that was shared with Morocco World News, the financing for 2024 said by 56%compared to 2023, with the EIB strengthening its support for the strategic priorities of Morocco.
“This commitment reflects increased mobilization in favor of sustainable development and the economic resistance of the country,” said EIB in her explanation and found that the bank has surpassed the investment brand of 10 billion euros for financing large -scale projects in various Moroccan sectors, including education, water, transport and more.
Ioannis Tsairis, Vice President of the EIB, recommended The partnership between Morocco and the bank finds that the North African country is a strategic partner for the bank and the European Union.
“By strengthening our engagement and our cooperation, in particular with important actors such as the CDG and the Mohammed VI investment fund, we encourage investments in strategic infrastructure, support the energy transfer and promote the integrative and sustainable development of the direct advantage of citizens, companies and the economic factory of Moroccs,” said Tsakiris.
The number of projects in which it was financed was described in the EIB declaration MoroccoIncluding the engagement of 1 billion euros, which was contributed to a recovery Morocco by the devastating earthquake of 2023, which Al Haouz performed in September of this year.
In October 2024, the EIB signed the first part of 500 million euros from the total budget to reconstruct schools, hospitals and streets through the earthquake.
The fund also aims to help with the revision of the essential infrastructure in the health and transport means and sets a grant of € 225 million from the EU.
As part of his support plans, EibThe EU delegation in Morocco and the Ministry of Education started a program for technical support of 6 million euros over five years to support the construction of 150 municipal schools in rural areas.
In addition to the technical support of the bank, this is in the development of a climate adaptation strategy to cope with extreme weather events.
Last year in December, EIB also confirmed her commitment during a high -ranking meeting with the Caisse de Depot et de Gesttion (CDG) with the aim of supporting industrial zones and improving small and medium -sized companies.
“Since the beginning of their collaboration, the EIB has committed over 445 million US dollars to support strategic projects that are led by the CDG and its subsidiaries,” the explanation said.
Regarding 2025, the bank said that it was obliged to continue to support the strategic infrastructure of the Morocco and to concentrate on the financing of small companies, renewable energies and sustainable traffic.
Adrien de Bassompierre, head of the representation of the EIB in Morocco, celebrated the partnership of the two parties and said that the global budget of 10 billion euros in Morocco reflects a milestone and demonstrates the “strength of our partnership and our long -term commitment”.
“These investments have a material impact: they improve the daily life of the citizens, improve the competitiveness of companies and accelerate the transition to a more resistant and sustainable economy,” said de Bassompierre in a statement.
He confirmed the commitment of the European Bank to continue the dynamics for the development and ambitions of the country.
