Cooperation prospects between Morocco and EBRD discussed in Rabat

Cooperation prospects between Morocco and the European Bank for Reconstruction and Development (EBRD) were discussed at a meeting in Rabat Thursday that gathered Head of Government Aziz Akhannouch and EBRD President Odile Renaud-Basso.

The meeting, attended by Minister of Economy and Finance Nadia Fettah, also discussed the major development projects initiated by Morocco.

The EBRD Chief commended Morocco’s selection to host the fifth Africa Investment Forum (AIF). The forum, held in Rabat Dec 4-6, is attended by Key stakeholders likely to facilitate the financing and implementation of development projects across Africa, according to a statement from the office of the head of the government.

Akhannouch expressed appreciation for the dynamic role of the EBRD in supporting infrastructure projects and accelerating Morocco’s energy transition.

Renaud-Basso recalled that EBRD has made significant investments in Morocco, exceeding €400 million this year, primarily in energy transition, carbon-neutral sectors, women’s integration, and economy digitalization, and pointed out that the bank’s priorities align with Morocco’s development objectives.
She described the relationship between Morocco and the EBRD as “excellent,” highlighting that the Bank has invested nearly €5 billion in Morocco since 2012, with 70% directed toward the private sector.

“We recently redefined the 2024-2029 country strategy for Morocco, focusing on three main priorities: promoting private sector development, including SMEs; supporting the energy transition; and advancing women’s inclusion,” she explained.

In terms of private sector development, the EBRD directly finances businesses, particularly small and medium-sized enterprises (SMEs) across various industries. It also works through Morocco’s leading banks to facilitate SME financing, including specialized programs targeting young people and women entrepreneurs.

On the energy transition, Renaud-Basso emphasized EBRD’s commitment to supporting Morocco’s strategies, highlighting the Bank’s previously financed private investments in renewable energy within the Kingdom.

As for women’s inclusion, the Bank aims to improve women’s access to the work force and increase their representation in leadership and governance roles within companies, Renaud-Basso concluded.