Casablanca – In 2024, Morocco saw a landmark partnership with the European Bank for Reconstruction and Development (EBRD), which allocated $570 million in financing across 12 key projects. This historic investment forms part of the bank’s broader strategy to promote sustainable development in the Southern and Eastern Mediterranean (SEMED) region, totaling $2.6 billion in investments for the year.

The investment in Morocco is particularly noteworthy for its significant focus on green economy projects, with nearly 60% of the funds directed towards initiatives aimed at enhancing environmental sustainability. This allocation, representing the highest volume and percentage of green economy investments in the SEMED region, underscores Morocco’s commitment to transitioning to a more sustainable, climate-resilient economy.

One of the highlights of the partnership was the EBRD’s first climate adaptation project in Morocco’s industrial sector. The bank provided a loan of $215 million to the OCP Group, a global leader in phosphate-based fertilizers. This substantial funding will support the development of two new desalination plants, significantly improving water security in Morocco. These plants are expected to help OCP achieve its ambitious goal of eliminating the use of freshwater in its industrial operations by 2030. This project is a crucial step in addressing the challenges posed by water scarcity and climate change in Morocco, and it aligns with the country’s broader goals for sustainable industrial practices.

Beyond the OCP project, the EBRD continued to support Morocco’s green economy transition by investing in renewable energy projects and private sector growth. Morocco has made significant strides in renewable energy, and these new investments aim to further increase the country’s energy independence. The EBRD’s support for renewable energy includes funding for solar and wind energy projects, reinforcing Morocco’s position as a leader in sustainable energy practices in the region.

The EBRD’s focus on inclusive growth and social development was also evident in its investments in Morocco. Half of the bank’s total funding was dedicated to projects that promote gender equality and tackle social inequalities. These investments include initiatives that support female entrepreneurship, workforce inclusion, and access to economic opportunities for marginalized groups. This commitment reflects the EBRD’s broader vision of fostering sustainable, inclusive growth in the region.

In total, the EBRD invested $2.6 billion in the SEMED region in 2024, an increase from $2.2 billion in 2023. Of the total amount, 49% was dedicated to green economy projects, 55% to the financial sector, 25% to the corporate sector, and 21% to sustainable infrastructure. Nearly 60% of these investments included gender equality measures, and 33% focused on human capital development, reflecting the bank’s commitment to tackling inequalities and fostering long-term growth.

The bank also mobilized $550 million in co-financing from other investors to support these initiatives, further expanding the impact of its investments.

In addition to its support for Morocco, the EBRD made significant investments across the SEMED region in 2024. Egypt received the largest share, with $1.6 billion allocated to 26 projects, of which 98% went to the private sector. Tunisia, Jordan, Lebanon, and Palestine also received considerable investments, with a strong focus on sustainable infrastructure, small and medium-sized enterprise (SME) support, and renewable energy.

The partnership between Morocco and the EBRD represents a significant opportunity in the country’s journey toward a green and sustainable future. By investing in renewable energy, water security, and gender equality, the EBRD plays a crucial role in supporting Morocco’s economic development and environmental stewardship. With these ongoing investments, Morocco is well-positioned to meet its long-term sustainability goals and to continue leading the charge for green economic transformation in the region.