In addition to the €200 million invested in the OCP project in Morocco, the EBRD continued to support Morocco’s transition to a green economy by investing in renewable energy and private sector growth.
The European Bank for Reconstruction and Development (EBRD) has made a historic investment of 530 million euros in Morocco in 2024, contributing to its record total investment of 2.4 billion euros in the southern and eastern region. Eastern Mediterranean (SEMED), according to the bank’s press release.
Investment in Morocco marked a regional milestone, with 59% dedicated to green economy projects, the highest in volume and share in the SEMED region.
The Bank’s support to Morocco includes its first climate adaptation project in the industrial sector. A €200 million loan to OCP Group, the world’s leading producer of phosphate fertilizers, will finance the development of two new desalination plants, ensuring water security and supporting OCP’s objective to eliminate the use of fresh water in industrial production by 2030.
In addition to promoting water sustainability, the EBRD has also financed other key projects in Morocco, including renewable energy and infrastructure initiatives. The Bank’s focus on sustainable and inclusive growth has been key, with 50% of its investments in Morocco including measures to promote gender equality and combat inequality.
In the SEMED region, which includes Egypt, Jordan, Lebanon, Tunisia, the West Bank and Gaza, the EBRD has made 2.4 billion euros of investments, compared to 2 billion euros in 2023. These Investments focused on 50 projects, including 49% in the green economy, 55% in the financial sector, 25% in the business sector and 21% in sustainable infrastructure. Nearly 60% of total investments included gender equality measures and 33% targeted human capital development.
The Bank also mobilized €514 million from other investors to support these efforts.
-In addition to the €200 million invested in the OCP project in Morocco, the EBRD continued to support Morocco’s transition to a green economy by investing in renewable energy and private sector growth. These initiatives aim to strengthen Morocco’s energy independence and position it as a leader in sustainable industrial practices. The Bank’s focus on gender equality in Morocco is illustrated by projects that prioritize female entrepreneurship and inclusion in the labor market.
Egypt was the main beneficiary from the SEMED region, with €1.5 billion invested in 26 projects. Of this total, 98% was intended for the private sector. The EBRD facilitated the country’s first sustainability bond issuance, with €500 million (€485 million) raised to support green and social financing, setting a benchmark for future investment.
Tunisia received 247 million euros for 11 private sector projects, including funding for renewable energy initiatives. The Bank financed solar power plants and wind projects and supported small and medium-sized enterprises (SMEs) with €344 million in trade facilitation transactions, a record for the country.
The EBRD has provided €67 million in loans and investments, with a focus on small businesses. The Bank made its first equity investment in the region through the Bank of Palestine and the Ibtikar venture capital fund, thereby strengthening financial systems and fostering innovation.
MK/ac/APA
