EIB plans greater involvement in financing development projects in Morocco

The European Investment Bank (EIB) is seeking to deepen its involvement in financing key development initiatives in Morocco, aligned with the country’s economic and social priorities.

The remarks were made by EIB Vice-President Ioannis Tsakiris on Thursday in Rabat during talks with Minister of Economy and Finance Nadia Fettah.

The EIB official reiterated the Bank’s commitment to strengthen further cooperation with Morocco, the ministry said in a press release.

For her part, Fettah commended the important strategic partnership between Morocco and the EIB, noting that the Kingdom’s economy has demonstrated resilience thanks to a series of reforms driven by King Mohammed VI’s leadership.

She also praised the EIB’s robust engagement with Morocco, highlighting its significant financial commitments to the country’s development efforts.

Discussions between the two officials touched on the EIB’s support for Morocco’s ambitious reform agenda, particularly in infrastructure and development projects.

On Wednesday, the EIB partnered with Morocco’s Railway Office (ONCF) to strengthen the resilience of Morocco’s railway network against climate change. In this connection, the two sides signed a technical assistance agreement aimed at developing a comprehensive strategy for climate adaptation and resilience in the country’s rail infrastructure.

This new agreement is a step forward in the long-standing collaboration between the EIB and ONCF, focusing on bolstering Morocco’s transport infrastructure while addressing the escalating challenges posed by climate change.

In a joint statement, both entities emphasized the importance of this initiative, and highlighted its role in ensuring the sustainability of Morocco’s rail network in the face of increasingly extreme weather conditions.

The core objective of the partnership is to support ONCF in assessing and anticipating climate-related risks. It also aims to guide the design of infrastructure solutions to better adapt to climate challenges, while enhancing the overall resilience of the railway network.

This initiative is seen as essential for ensuring the safety and reliability of Morocco’s rail system as climate impacts become more severe and unpredictable.

For the EIB, often referred to as the European Union’s “climate bank,” this collaboration with the ONCF is part of its wider strategy to promote sustainable transport infrastructure.