France and Morocco signed a series of strategic agreements worth up to EUR 10 billion during French President Emmanuel Macron’s three-day visit to the North African country, AFP reported.
The Moroccan and French financial authorities agreed to align their regulations, while the French Development Agency (AFD) announced loans totaling EUR 125 million to help fund regional development in Morocco.
The funds include a EUR 25 million loan for the region of Guelmim-Oued Noun and EUR 100 million for the Casablanca-Settat region in preparation for Morocco hosting the 2030 World Cup.
In banking, Bpifrance and Morocco’s Attijariwafa Bank teamed up to improve financing options for joint ventures. The French Chamber of Commerce in Morocco and the Bank of Africa also signed an agreement to support French investments in Morocco and across Africa.
Private sector companies also inked significant deals. Suez and Safari partnered to provide products and services to Morocco’s regional utilities.
Thales Alenia Space and Panafsat launched a joint satellite project, and MGH Energy and Petrom joined forces to boost e-fuel production in the Dakhla region. XXII and ABA Technology set up a joint venture to promote sustainable development across Europe, the Middle East, and Africa.
To enhance Morocco’s energy sector, the Hydrogen Task Force (MEDEF International) and Morocco’s Green H2 Cluster expanded their green hydrogen partnership.
Electricians Without Borders and Morocco Future Energy Leaders partnered to improve electricity access in underserved areas, while Aquasys and the National Office of Electricity and Drinking Water introduced a pilot program for digital water management.
Agriculture and education received significant focus as well. Avril, Agropol, and the Federation of Oilseed Professionals agreed to create a new oilseed production center, while Intercéréales, Arvalis, OCP, and Mohammed VI Polytechnic University (UM6P) formed a partnership to improve agricultural productivity.
UM6P also partnered with the International School and University Office to develop workforce-ready education programs. In addition, InnovX, an OCP subsidiary, invested in French startup NetZero to develop biochar technology for carbon capture.