London, May 21, 2012
The shareholders of the European Bank for Reconstruction and Development (EBRD) approved, on Saturday, the establishment of a special fund with a budget of one billion euros to promote investment in emerging Arab democracies, including Morocco.
The fund will enable the EBRD to initiate operations aimed at paving the way for the implementation of major investment projects in the region following the enlargement of the geographical scope of the financial institution’s action to include the southern and eastern areas of the Mediterranean.
The EBRD said in a statement that it intends to invest particularly in Morocco, Tunisia, Jordan and Egypt, where it has recently opened representations.
The bank noted that it will raise the amount of investments in the region to 2.5 billion euros.
Investment projects in the four countries will focus on private sector development, encouraging small and medium enterprises, strengthening financial sector stability and promoting energy.
