In 2024, the European Investment Bank (EIB) significantly increased its financial commitment to Morocco, providing €500 million in funding, marking a 56% rise compared to the previous year. This boost brings the EIB’s total financing in Morocco to over €10 billion. The funding is aimed at supporting large-scale projects across various sectors, including energy, water, transportation, education, and business development.
EIB Vice-President Ioannis Tsakiris highlighted the strategic importance of Morocco as a key partner for both the EIB and the European Union. The enhanced collaboration with Moroccan institutions such as the Caisse de Dépôt et de Gestion (CDG) and the Mohammed VI Investment Fund is intended to drive investment in critical infrastructure, promote energy transition, and foster inclusive and sustainable economic growth.
One of the major initiatives supported by this financing is the €500 million part of a €1 billion commitment dedicated to the reconstruction of schools, hospitals, and roads damaged by the Al Haouz earthquake. This effort aligns with Morocco’s broader reconstruction plan and the EU-Morocco Green Partnership, which focuses on integrating sustainable energy solutions and enhancing seismic resilience. The EU is contributing an additional €225 million in grant funding for this project.
In the education sector, the EIB, alongside the EU Delegation to Morocco and the Ministry of National Education, launched a €6 million technical assistance program aimed at constructing and rehabilitating 150 community schools over the next five years, to improve rural education in the country. Furthermore, the EIB is assisting the National Railways Office (ONCF) in developing a climate resilience strategy for Morocco’s rail network.
In December, the EIB further strengthened its partnership with Morocco’s CDG, with a focus on supporting industrial zones, financing small and medium-sized enterprises (SMEs), and promoting sustainability. Since the collaboration began, the EIB has committed €455 million to CDG-led initiatives.
Looking ahead to 2025, the EIB plans to continue its support for Morocco’s infrastructure development, with particular emphasis on financing SMEs, promoting renewable energy, and enhancing sustainable transport systems. The EIB also aims to bolster Morocco’s resilience in its water and electricity networks, ensuring a sustainable future for the country.
