Casablanca– Adrien De Bassompierre, the head of the European Investment Bank (EIB) representation in Morocco, announced in Rabat that the European Investment Bank, through the European Global Investment Bank, has granted Morocco new funding amounting to approximately 3.5 billion dirhams (320 million euros, approximately 352 million USD) for the year 2023, representing a 44 percent increase compared to 2022.
During a press briefing to present the results of the European Investment Bank’s activities in Morocco for the year 2023, De Bassompierre explained that this funding will be allocated to projects focusing on regional economic development, comprehensive and sustainable forest management, as well as support for small and medium-sized enterprises.
He further noted that the bank also maintained high disbursements in 2023, amounting to around 161 million euros (approximately 177.1 million USD) in both the private and public sectors, aimed at supporting businesses and economic activities in the public sector. This brings the total funding injected into the national economy to over 1.5 billion euros (approximately 1.65 billion USD) since 2020.
According to the European official, the European Investment Bank supports post-earthquake reconstruction efforts with an investment of one billion euros (approximately 1.1 billion USD) in the coming years. In parallel, De Bassompierre added that the bank is considering contributing 500 million euros (approximately 550 million USD) to the Mohammed VI Investment Fund to promote green infrastructure projects in the private sector, develop enterprises, and innovate. Currently, projects announced in 2023 are being evaluated among those considered. He stated, “In 2023, the pace of commitments made by the European Investment Bank to Morocco has increased, and we committed firmly in Marrakech, during the World Bank meetings, to rebuild after the earthquake. We continue to support the Kingdom’s strategic ambitions for sustainable and inclusive development.”
He added, “Building on our strong collaboration with national authorities, the European Union delegation in Morocco, and all development partners, we aim to implement projects with significant and direct impact benefiting Moroccan citizens. Together, we are committed to building a greener and more prosperous future.”
The European Investment Bank’s commitment to Morocco in 2023 is part of the European Union’s “Global Gateway” strategy and the implementation of the economic and investment plan for the new Mediterranean region launched in 2021.
The European Investment Bank, through the European Global Investment Bank, focuses on developing sustainable and comprehensive projects not only to achieve comprehensive development goals and environmental transformation in Morocco but also to contribute to achieving shared prosperity and enhancing resilience globally.
