EIB Invested 2.5 Bln Euros in Morocco over 5y

European Investment Bank (EIB) invested 2.5 billion euros in Morocco over the past five years, said EIB in a statement Wednesday.
In a press conference, EIB Vice-President Ricardo Mourinho Félix highlighted that Morocco is the recipient of the second-largest volume of EIB support in the southern Mediterranean region.
The bank invested, between 2017 and 2022, roughly 40% of its funding in small and medium-sized enterprises, 20% in renewable energy, 19% in sustainable transport, and 16% in health and education, wrote the statement.
The bank provided more than €381 million to Morocco’s economy in 2022, half of which went to infrastructure projects for environmental protection, renewable energy and energy efficiency.
Morocco’s national railways office (ONCF) received a €200 million loan from the EIB in 2022, added the statement.
“With EIB Global, the EIB’s new development arm, we will further strengthen our local, regional and international partnerships to support projects with high economic and social impact for the benefit of all Moroccans”, Said Mourinho Félix.
In October 2022, the Trade and Competitiveness Program, developed by the EIB with financial support from the European Union, granted €8 million to the “Banque Populaire”.
In 2022, the EU Neighborhood Investment Platform, which is run by the EIB, injected €14 million into a program to construct 150 community schools in rural areas.