The EIB has worked with Morocco since 1979, making the country a long-standing partner in the Southern Neighbourhood. The Bank operates in the country in line with the European Neighbourhood Policy (ENP) and other EU bilateral agreements.
Our operations improve people’s daily lives, from clean water and energy supply for local homes to a new tramline of 17 kilometres in Casablanca serving over one million people. We also finance sustainable climate investments, provide liquidity for micro, small, and medium-sized enterprises (MSMEs), and reinforce financial and microfinance institutions to help women and vulnerable populations. For example, through the Risk Capital Facility, we support microfinance via Al Amana and Jaida. Our investments help foster development and promote inclusive growth for all Moroccans.
In the energy sector, the Noor Ouarzazate solar power plant aims to provide electricity for more than one million people and save at least 730 000 tonnes of CO2 emissions per year. The country plans to generate more than half of its power from sustainable energy sources by 2030.
The Bank is also helping to upgrade and rehabilitate existing water supply and distribution infrastructure across Morocco with a loan of €37.5 million. In addition, we have financed the Tanger Med port, a major international hub and a gateway for the country’s imports and exports.
The EIB also supports the agri-food sector in Morocco. For instance, the Bank’s recent financing to Zalar has supported their grain storage facilities and chicken broiler farms, allowing the local mid-cap to grow and provide more employment opportunities.
Furthermore, Morocco benefited from EIB support through the Economic Resilience Initiative (ERI). Under ERI, we supported regional integration and stability by investing in higher education, research and innovation. Through our €70 million loan to the EuroMed University, over 6000 students from all the Euro-Mediterranean countries can study with lower tuition fees at a brand new eco-campus in Fez.