📋 Tender Overview
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.”
In 2023, the EIB mobilised €100 million for sustainable and inclusive forest management in national parks and drainage basins, in particular in mountainous regions. Developed in conjunction with the European Union’s Terre Verte programme for a green Morocco, this project will improve the living conditions of locals and strengthen ecosystems’ resilience to climate change while reducing the risk of flooding and erosion.
The Bank hopes to further stimulate growth and national competitiveness with an investment of €115 million for MEDZ, a subsidiary of Caisse des Dépôts et de Gestion (CDG), to develop and expand ten technology parks strategically located across five regions of Morocco. This will promote regional development and strengthen the country’s position as an innovative, zero-carbon industrial hub.
The Bank has allocated €55 million to CaixaBank to support micro, small and medium-sized enterprises through the Tajawouz initiative, which will make it easier for them to access finance. It has also granted a €50 million loan to Banque Centrale Populaire (BCP) to support the development of micro, small and medium businesses under the competitiveness and trade programme.
The Bank has also launched two other related initiatives for Moroccan companies. One is a decarbonisation guide to support businesses in the green transition. The other is a free digital platform called Tatwir TPME designed to help executives and business leaders to strengthen their managerial, organisational and technical skills.
The EIB’s increased activities in Morocco in 2023 tie in well with the goals of the European Union’s Global Gateway strategy and the economic and investment plan of the new agenda for the Mediterranean launched in 2021. Its focus on developing sustainable and inclusive projects reflects its efforts, via EIB Global, to achieve inclusive growth and the green transition in Morocco, but also to contribute to shared prosperity and greater resilience on a global scale.
