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.”