The European Bank for Reconstruction and Development (EBRD) made a historic EUR 530 million investment in Morocco in 2024, contributing to its record EUR 2.4 billion total investment in the southern and eastern Mediterranean (SEMED) region, according to the bank’s press release.
The investment in Morocco marked a regional milestone, with 59% directed to green economy projects—the highest both in volume and share in the SEMED region.
The Bank’s support in Morocco included its first climate adaptation project in the industrial sector. A EUR 200 million loan to OCP Group, the world’s leading producer of phosphate-based fertilizers, will fund the development of two new desalination plants, ensuring water security and supporting OCP’s goal of eliminating fresh water use in industrial production by 2030.
In addition to advancing water sustainability, the EBRD also funded other key projects in Morocco, including renewable energy and infrastructure initiatives. The Bank’s focus on sustainable and inclusive growth has been pivotal, with 50% of its investments in Morocco including measures to promote gender equality and address inequalities.
Across the SEMED region—which includes Egypt, Jordan, Lebanon, Tunisia, and the West Bank and Gaza—the EBRD achieved EUR 2.4 billion in investments, up from EUR 2 billion in 2023. These investments spanned 50 projects, with 49% in the green economy, 55% in the financial sector, 25% in the corporate sector, and 21% in sustainable infrastructure. Nearly 60% of the total investments included gender equality measures, and 33% targeted human capital development.
The Bank also mobilized EUR 514 million from other investors to support these efforts.
In addition to the EUR 200 million into Morocco’s OCP project, the EBRD continued to support Morocco’s transition to a green economy with investments in renewable energy and private-sector growth. These initiatives aim to enhance Morocco’s energy independence and position it as a leader in sustainable industrial practices. The Bank’s focus on gender equality in Morocco is exemplified by projects that prioritize female entrepreneurship and workforce inclusion.
Egypt was the largest recipient in the SEMED region, with EUR 1.5 billion invested across 26 projects. Of this, 98% went to the private sector. The EBRD facilitated the country’s first sustainability bond issuance, with EUR 500 million (EUR 485 million) raised to support green and social financing, setting a benchmark for future investments.
The EBRD invested EUR 169 million in Jordan, with 72% allocated to the private sector, including tourism and sustainable infrastructure. A significant project involved a EUR 45.3 million investment in wastewater treatment in West Irbid, benefiting 200,000 residents and reducing greenhouse gas emissions.
Tunisia received EUR 247 million for 11 private-sector projects, including funding for renewable energy initiatives. The Bank financed solar plants and wind energy projects and supported small and medium enterprises (SMEs) with EUR 344 million in trade facilitation transactions, a record for the country.
In Lebanon, the Bank supported over EUR 20 million in trade facilitation and 91 advisory projects for small businesses. It also launched new programmes for Lebanese SMEs focused on the green transition and supported eight start-ups through its Star Venture programme.
The EBRD provided EUR 67 million in loans and investments, focusing on small businesses. The Bank made its first equity investment in the region through the Bank of Palestine and the Ibtikar venture capital fund, strengthening financial systems and fostering innovation.