Rabat – The European Bank for Reconstruction and Development (EBRD) has taken a significant stride towards fostering economic prosperity and environmental sustainability in Morocco, announcing the approval of its strategy for the North African nation spanning from 2024 to 2029.
The Board of Directors of the EBRD unveiled this comprehensive roadmap on Wednesday, delineating a trajectory focused on bolstering the private sector, fostering inclusive growth, and catalyzing a green transition within Morocco’s economic landscape.
According to Antoine Sallé de Chou, Morocco’s EBRD Director, the adoption of this strategic blueprint marks a pivotal juncture for both the Bank and Morocco. It sets the course for targeted investments and policy dialogues over the next five years aimed at nurturing inclusive and sustainable economic growth across the country.
“This new strategy represents a crucial milestone for the EBRD and Morocco alike. It will serve as a guiding framework for our investments and policy engagements, driving forward the agenda of inclusive and sustainable economic development,” stated Sallé de Chou in a press release.
In alignment with key priorities identified in collaboration with Moroccan authorities, the new strategy underscores the EBRD’s commitment to supporting Morocco’s evolution into a private investment-driven economy, integral to its overarching development paradigm.
“We will also support deeper regional integration and solidify Morocco’s position as a gateway to Africa,” Sallé de Chou added. The EBRD’s assistance will extend to reforming state-owned enterprises and developing public-private partnerships.
According to EBRD, ensuring equitable distribution of economic benefits is a key pillar of the strategy. The bank will focus on women and youth entrepreneurship by increasing access to finance and business guidance.
Additionally, the strategy aims to bridge skill gaps and narrow regional disparities, with a specific focus on rebuilding essential infrastructure and economic opportunities in areas impacted by the September 2023 earthquake.
Recognizing Morocco’s existing efforts toward a green economy, the EBRD will support the country’s transition by exploring investments in water conservation projects and promoting sustainable water management practices.
This collaboration will also encompass Morocco’s shift towards renewable energy and measures to adapt to climate change.
The new strategy incorporates feedback from shareholders, Moroccan authorities, the private sector, and civil society, reflecting the EBRD’s commitment to a collaborative approach.
This follows the previous strategy period, during which the EBRD invested €1.6 billion in Morocco, with a focus on entrepreneurial potential, infrastructure development, capital markets, and the sustainability of public services.
