• New investments total €320 million, an increase of 44% on 2022.
  • Since 2020, the EIB has injected more than €1.5 billion into the real economy for projects in key sectors of development for the country.
  • The EIB remains a strong partner for Morocco in supporting its strategic priorities, in particular through post-earthquake reconstruction and backing for the Mohammed VI Investment Fund (FM6I).

The European Investment Bank (EIB), through EIB Global, has presented its 2023 results for Morocco at a press meeting. It recorded €320 million (approximately MAD 3.5 billion) in new financing for projects focused on regional economic development and sustainable and inclusive forest management, and in support of small and medium-sized enterprises.

Bank disbursements remained high in 2023, with around €161 million going to the private and public sectors to support businesses and public sector activity. This brings the total amount that has gone into the national economy since 2020 to more than €1.5 billion.

In addition, the Bank is actively looking at ways to support post-earthquake reconstruction initiatives through a €1 billion investment in the coming years. It is also considering a potential €500 million contribution to the Mohammed VI Investment Fund (FM6I) to promote private sector green infrastructure projects, business development, and innovation. These commitments announced in 2023 are part of projects currently under appraisal.

“We stepped up our activities in Morocco in 2023. At the World Bank Annual Meetings in Marrakesh, we also firmly pledged our support for post-earthquake reconstruction as we continue to back the country’s strategic ambitions for sustainable and inclusive development,” said the Head of the EIB Representation to Morocco Adrien de Bassompierre at the presentation of the Bank’s work in Rabat. “Through our collaboration with the national authorities, the EU Delegation to Morocco and all our development partners, we are able to focus on high-impact projects that directly benefit the people of Morocco. Together, we are determined to build a greener and more prosperous future.”

In 2023, the EIB mobilised €100 million for sustainable and inclusive forest management in national parks and drainage basins, in particular in mountainous regions. Developed in conjunction with the European Union’s Terre Verte programme for a green Morocco, this project will improve the living conditions of locals and strengthen ecosystems’ resilience to climate change while reducing the risk of flooding and erosion.

The Bank hopes to further stimulate growth and national competitiveness with an investment of €115 million for MEDZ, a subsidiary of Caisse des Dépôts et de Gestion (CDG), to develop and expand ten technology parks strategically located across five regions of Morocco. This will promote regional development and strengthen the country’s position as an innovative, zero-carbon industrial hub.

The Bank has allocated €55 million to CaixaBank to support micro, small and medium-sized enterprises through the Tajawouz initiative, which will make it easier for them to access finance. It has also granted a €50 million loan to Banque Centrale Populaire (BCP) to support the development of micro, small and medium businesses under the competitiveness and trade programme.

The Bank has also launched two other related initiatives for Moroccan companies. One is a decarbonisation guide to support businesses in the green transition. The other is a free digital platform called Tatwir TPME designed to help executives and business leaders to strengthen their managerial, organisational and technical skills.

The EIB’s increased activities in Morocco in 2023 tie in well with the goals of the European Union’s Global Gateway strategy and the economic and investment plan of the new agenda for the Mediterranean launched in 2021. Its focus on developing sustainable and inclusive projects reflects its efforts, via EIB Global, to achieve inclusive growth and the green transition in Morocco, but also to contribute to shared prosperity and greater resilience on a global scale.

Background information

European Investment Bank

The EIB and Morocco have had close ties for more than 40 years. The EIB finances the development and implementation of important projects in vital sectors of the Moroccan economy such as business support, agriculture, water and sanitation, education, health, transport and renewable energy.

The European Investment Bank (EIB) is the European Union’s long-term financing institution owned by its Member States. EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance beyond the European Union. It is a key partner in the European Union’s Global Gateway initiative, and is designed to foster strong, focused partnership within Team Europe alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices around the world.

Global Gateway is the European Union’s strategy to narrow the global investment gap, boost smart, clean and secure links in the digital, energy and transport sectors, and strengthen education, health and research systems. The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States and European development finance institutions. It aims to mobilise up to €300 billion in public and private investment from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.