EIB invested €2.5 Bln in Morocco over past five years

EIB invested €2.5 Bln in Morocco over past five years

The European Investment Bank has invested €2.5 billion in Morocco over the last five years, making the North African Kingdom the 2nd largest recipient of EIB funding in the southern Mediterranean region.

Speaking at a press conference held Wednesday in Rabat, Ricardo Mourinho Félix, EIB Vice-President said the bank’s investment supported Morocco’s development and its economic growth.

Since 2017, the EIB has devoted around 40% of its financing to small and medium-sized enterprises (SMEs) and industry, 20% to renewable energy, 19% to sustainable transport and 16% to health and education.

In 2022, the Bank injected more than €381 million into Morocco’s economy, half of which went to infrastructure projects for environmental protection, renewable energy and energy efficiency.

This helped the country to enhance its energy independence by reducing greenhouse gas emissions and building a greener and more sustainable economy.

“We have accelerated the implementation of our projects in Morocco in all sectors of our activity. We have been working closely with our partners on the ground to provide financial and human resources in order to lend even stronger support to the country’s development,” said Mr. Mourinho Félix.

“With EIB Global, the EIB’s new development arm, we will further strengthen our local, regional and international partnerships to support projects with high economic and social impact for the benefit of all Moroccans.”

The EIB has been a key partner for Morocco for more than 40 years. It finances the development and implementation of important projects in vital sectors of Moroccan economy such as business support, agriculture, water and sanitation, education, health, transport and even renewable energy.

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