Unprecedented EIB mobilisation in Morocco in 2020 to combat COVID-19 pandemic

March 11, 2021
Share on

2020 saw an extraordinary level of European Investment Bank (EIB) activity in Morocco, with €617 million in signatures – double the 2019 figure. The Bank took wide-ranging action under the Team Europe initiative to quickly provide urgent support to the Kingdom of Morocco to combat the COVID-19 pandemic. It provided immediate funding and exceptionally accelerated disbursements for previously signed loans to help small and medium-sized enterprises (SMEs). The Bank’s total disbursements in 2020 reached €516 million, three times more than in 2018. This acceleration made it possible to provide decisive support to project promoters facing liquidity constraints.

EIB financing in 2020 gave priority to strengthening the health system (€200 million), supporting agricultural SMEs (€200 million), strengthening the state-owned Caisse Central de Garantie (CCG) to provide liquidity to the entire private sector (€150 million), and supporting the automotive sector (€54 million). The Bank also assisted micro-entrepreneurs with two microfinance sector operations (€13 million).

Already partners of the Euro-Mediterranean University of Fes (UEMF), the European Union and EIB provided a grant of €500 000 for purchasing IT equipment to ensure teaching could continue during the pandemic.

The EIB has been a key partner for Morocco for 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 even renewable energies.


Read more

Press release

Countries covered:

  • Morocco