Rabat – The European Investment Bank (EIB) has in Morocco reached The impressive milestone of investing 10 billion euros in the country in 1979.
This performance coincides with the robust reaction of the EIB to the devastating earthquake in Al Haouz in September 2023, which reflects the double engagement of the institution for long -term development and the crisis reaction.
Morocco World News (MWN) sat with the head of the EIB representation of the EIB in Morocco Adrien de Bassompierre to talk about the bank’s financing initiatives in 2024 and his strategic role in promoting sustainable development in several important sectors.
Mile stone performance and earthquake reaction
De Bassompierre spoke about the successes of the institution in 2024 and explained that last year an important year was presented for the EIB in Morocco for two main reasons.
“First, symbolic, because we have exceeded the threshold of 10 billion euros in the country in 1979 in Morocco since the beginning of our activities,” he noted.
The second significant performance includes the EIB earthquake reaction. The EIB has committed 1 billion euros for the reconstruction of the earthquake, with the first 500 million euro tranche already being output.
The extensive initiative of the institution targeted Three critical areas, including the restoration of schools, reconstruction of damaged roads and rehabilitation of health centers.
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The work carried out in these areas includes close cooperation with several government ministries, including the ministries of education, equipment and water and health.
To facilitate the distribution of the distribution of funds, De Bassompierre said that coordination by partnerships with the Ministry of Economics and Finance and the new active agency for the development of the region in Atlas in Atlas.
In a synergistic approach that connects the European Union (EU) and EIB, the reconstruction package is rounded off by a significant grant of 225 million euros from the European Union. The joint financing of the EU institutions helps to reduce the financing costs for the Moroccan government and at the same time to meet the EIB mandate to support the priorities of the EU Morocco partnership.
“It is our mandate as an EU bank to support the priorities of the partnership between the EU and Morocco,” he argued.
Beyond loans: technical expertise for a sustainable infrastructure
The EIB not only offers financial support, but also offers technical support. According to the bassompierre, the extensive team of bankers of the bank enables partners in various sectors to benefit from valuable technical expertise.
The EIB, he said, “is not only a bank that gives loans, we also have many engineers and technical know -how that we expand our partners.”
This technical support in 2024 focused In the development of rural education, the rehabilitation of community schools and the improvement of the resilience of railway networks against the effects of climate change.
This approach reflects the bank’s comprehensive vision for sustainable development in Morocco, emphasized de Bassompierre. The EIB combines financing with specialist knowledge to ensure that projects match technically solid, environmentally friendly and with the national development priorities of Morocco.
Promotion of the growth of the private sector through strategic partnerships
Public infrastructure projects are a significant share of the EIB portfolio. De Bassompierre pointed out that the growing focus of the institution for supporting the private sector.
As a large -scale financial institution and as a retail bank the EIB partner “With commercial banks to provide access to financial resources for SMEs,” he described them as the backbone of the Morocco economy.
Through the collaboration of the bank with local financial institutions such as CIH and BMCE, EIB financing channeling on small and medium -sized companies. This approach aims to contribute to the creation, innovation and entrepreneurship of the country.
In addition, these initiatives promote economic and financial integration for Moroccans across the country.
With a view to the future, de Bassompierre announced that the EIB paved the way to realize its partnership with the Mohammed V fund for investments. The bank plans to sign half a billion euros to support the development of the private sector.
This cooperation represents another option on which the bank promotes economic growth and entrepreneurship throughout Morocco.
Transition of green energy
Since the energy crossing is the cornerstone of the EIB strategy in Morocco, the European institution is planning to start considerable investments in the development of renewable energies and support the infrastructure.
“We are examining options in renewable energies, electricity networks, offshore wind potential and green hydrogen production,” said de Bassompierre.
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Power grids are particularly crucial for facilitating the integration of renewable energy sources.
The bank actively researches top options for emerging green technologies, including offshore wind potential and green hydrogen production. These initiatives correspond to the ambitious climate goals Morocco and contribute to positioning the country as a potential guide for renewable energies on the entire African continent.
Sustainable mobility: connect cities and communities
The transport infrastructure represents another important investment area for the EIB, whereby the focus is on both intercity and urban mobility solutions.
Sustainable transport and mobility are “another important axis for the EIB,” said de Bassompierre. The bank already has supports He added Intercity connectivity through investments in railways and highways throughout Morocco.
In addition, this strategic overhaul is concerned with Tramway systems, whereby the EIB official plans to investigate the feasibility in other Moroccan cities of sustainable mobility projects inspired by the tram systems in Rabat and Casablanca.
In addition to improving connectivity, these initiatives reduced carbon emissions by providing alternatives to vehicle trips and contributing to the wider green transition to Morocco to the opposite of climate change.
Water security
Since Morocco suffers from increasing water shortages after seven years of drought, the EIB has invested in initiatives for water infrastructure and in sewage treatment. De Bassompierre explained: “The water sector is particularly important for us to improve the country’s climate silence.”
Specific initiatives will take advantage of reduced losses in water networks and the reuse of water by setting up advanced wastewater treatment plants. According to de Bassompierre, these projects require direct needs and at the same time build long -term resistance to climate -related water challenges.
Measurement of the effects and coping with the challenges
The EIB occupies strict surveillance systems to evaluate the effects of its investments in the North African country.
De Bassompierre describes EIBS project standards and emphasized that “projects have to be economically viable and have to have a positive effect on society, be it socially or ecological.”
Despite its success, the bank recognizes several challenges in its work. The project structure remains a significant hurdle, with many initiatives require improved technical support to ensure life capacity.
Access to financing for SMEs Fort In order to be a focus area, the bank works to establish risk -division mechanisms.
As a Morocco in the economic transformation under the global challenges, the European investment bank presents itself as a decisive partner and not only offers capital, but also the technical expertise and the strategic vision that are necessary to build up a resistant, sustainable future for all Moroccans.
For de bassompierre, who are supporting the climate adaptation and improving the resilience of the infrastructure, “are some of the areas that face challenges, but also opportunities for us in the future”.
