European Investment Bank (EIB) provided a 115 million euro loan to MEDZ, a state investment agency (CDG) subsidy group, to expand and modernize ten Technopoles Maroc II projects, during an EIB forum on Feb. 7-8 taking place in Luxembourg, according to the bank’s release.
The project seeks to foster regional economic growth and build Morocco as a competitive, carbon-free manufacturing powerhouse.
The fund–which will be used to sustainably develop eleven technological parks around the country–aims to reconcile the facilities with acceptable environmental standards.
The selected parks will host integrated corporate clusters and industrial platforms with significant research, development, and innovation potential, as well as sustainability-oriented educational components.
This enormous initiative complements the Moroccan government’s ambitions, notably those outlined in its new growth model and industrial acceleration plan, which seek to establish Morocco as a model for carbon-free, responsible, and sustainable production. It also intends to support a long-term economic recovery while mitigating regional inequities, following the advanced regionalization strategy.
This initiative builds on the success of 2012’s Technopoles I operation, which created roughly 36,000 jobs, and demonstrates the power of the CDG-EIB relationship.
CDG head Khalid Safir said, “They–EIB–share the same objectives on the economic and social influence of our Moroccan regions and the reduction of regional disparities. As a high-impact player, we aim to step up our action as a sustainability driver of our economy.”