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The European Bank for Reconstruction and Development (EBRD) more than doubled its investment in Morocco last year, extending more than €528 million ($565.83 million) in finance to 14 projects, up from €211 million in 2021, the UK-headquartered development bank announced last week
The bank delivered a record investment of €360 million in the private sector and €170 million in support of Morocco’s green economy. Nearly 58 percent of all investments had a gender and inclusion focus.
Here are some of the major investments:
The bank co-financed the first wind farm repowering of the Koudia Al Baida wind farm in the north of the country with a senior loan of up to €44 million.
EBRD invested a 1 billion Moroccan dinars issue by the city of Agadir, the capital of Morocco’s Souss-Massa region, thus becoming the Moroccan city to join the EBRD Green Cities programme.
EBRD extended additional financing of €100 million for constructing the Nador West Med (NWM) port. The bank also provided a technical cooperation package worth €1 million to assess NWM’s potential role in the hydrogen value chain.
EBRD delivered 88 small and medium-sized enterprises (SME) advisory projects in 2022, most in the regions outside Casablanca and Rabat.
(Writing by P Deol; Editing by Anoop Menon)
