- €500 in financing in 2024: an increase of 56% compared to 2023
- Enhanced technical assistance to support post-earthquake reconstruction, strategic infrastructure and private sector development
- More than €10 billion has been unlocked since the start of the EIB-Morocco partnership
At the presentation of its 2024 results, the European Investment Bank (EIB) confirmed its role as a key partner in Morocco’s development thanks to longstanding levels of commitment. With €500 million in financing in 2024, up by 56% compared to 2023, the EU bank is stepping up its support for Morocco’s strategic priorities. This level of engagement shows stronger commitment to the sustainable development and economic resilience of the country. Since the beginning of its partnership with Morocco, the Bank has exceeded the €10 billion investment mark, financing major projects in energy, water, transport, education and business support. This symbolic milestone testifies to the EIB’s enduring commitment alongside the Kingdom of Morocco.
In October 2024, the EIB signed the first €500 million tranche, as part of a €1 billion commitment for the reconstruction of schools, hospitals and roads damaged by the Al Haouz earthquake. This funding is part of the overall reconstruction programme put in place by the Moroccan government. It aims to restore key infrastructure in the education, health and transport sectors, while integrating enhanced seismic standards and sustainable energy solutions in line with the priorities of the EU-Morocco Green Partnership. It will directly contribute to the rehabilitation of critical infrastructure and the resilience of affected populations. This support supplements a €225 million grant from the European Union.
In addition, to increase access to education in rural areas, the EIB, the EU Delegation in Morocco and the Ministry of National Education, Pre-School and Sports have launched a 5-year technical assistance programme worth €6 million to support the construction and rehabilitation of 150 community-based schools in rural areas.
The EIB has also provided technical assistance to Office national des chemins de fer (ONCF) to develop a resilience and climate adaptation strategy for the Moroccan rail network, in order to better cope with extreme weather events and ensure the sustainability of rail transport.
In December 2024, at a high-level meeting, the EIB and Caisse de Dépôt et de Gestion (CDG) confirmed their partnership to mobilise key investments to support industrial areas, strengthen SME financing and promote sustainability. Since the start of their partnership, more than €455 million has been committed by the EIB to assist strategic projects led by CDG and its subsidiaries, illustrating a shared ambition to accelerate the transition to a more resilient and sustainable economy.
In 2025, the EIB will continue to support Morocco’s strategic infrastructure, with a focus on SME financing, renewable energy and sustainable transport. It will also continue to aid the green transition and the modernisation of water and electricity networks, in order to strengthen the country’s resilience and improve access to essential services.
EIB Vice-President Ioannis Tsakiris said: “Morocco is a strategic partner for the EIB and the European Union. By reinforcing our commitment and partnerships, particularly with key players such as the CDG and the Mohammed VI Fund for Investment, we encourage investment in strategic infrastructure, support the energy transition and promote inclusive and sustainable development, to the direct benefit of citizens, businesses and the Moroccan economy.” ”
Head of the EIB Representation in Morocco Adrien de Bassompierre said: “Exceeding €10 billion in investment with Morocco is a testament to the strength of our partnership and our long-term commitment. These investments have a tangible impact: they improve people’s daily lives, bolster the competitivity of businesses and speed up the transition to a more resilient and sustainable economy. We will sustain this momentum to support, alongside all our partners, the development and ambitions of the Kingdom of Morocco. ”
Background information
EIB
The EIB and the Kingdom of Morocco have been key partners for more than 40 years. The EIB finances the development and implementation of key 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 is the long-term lending institution of the European Union, 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 over the 2021-2027 period, creating essential links rather than dependencies, and closing the global investment gap.