Mobilisation sans précédent de la BEI au Maroc en 2020 pour lutter contre la pandémie de COVID-19

2020 saw an extraordinary level of European Investment Bank (EIB) activity in Morocco, with €617 million (almost MAD 6.7 billion) in signatures – double the 2019 figure. The Bank took wide-ranging action under the Team Europe initiative to quickly provide urgent support to the Kingdom of Morocco to combat the COVID-19 pandemic. It provided immediate funding and exceptionally accelerated disbursements for previously signed loans to help small and medium-sized enterprises (SMEs). The Bank's total disbursements in 2020 reached €516 million, three times more than in 2018. This acceleration made it possible to provide decisive support to project promoters facing liquidity constraints.

EIB financing in 2020 gave priority to strengthening the health system (€200 million), supporting agricultural SMEs (€200 million), strengthening the state-owned Caisse Central de Garantie (CCG) to provide liquidity to the entire private sector (€150 million), and supporting the automotive sector (€54 million). The Bank also assisted micro-entrepreneurs with two microfinance sector operations (€13 million). This backing illustrates the EIB's broad, diversified approach in terms of both sectors and beneficiaries, with the application of a range of instruments tailored to specific financing needs (loans and guarantees, technical assistance and grants).

“The record EIB activity in Morocco in 2020 made it possible to finance key projects for the economy during an unprecedented crisis. The Bank's responsiveness and strong mobilisation enabled it to support partners and project promoters, mitigating the impact of the pandemic in the public and private sectors,” said EIB Vice-President Ricardo Mourinho Félix, who is responsible for financing in Morocco, at the presentation of the EIB's annual results for the country. “Our action in Morocco is in line with EU priorities while also being perfectly aligned with the strategic objectives of the Kingdom of Morocco and the national recovery plan. As the EU climate bank, we will also support Morocco's climate action and sustainable investment initiatives in energy, energy efficiency and urban mobility under the European Green Deal. We aim to finance innovative projects fostering growth, employment and social inclusion. In this way, we are helping to build a better future for younger generations.”

Extraordinary EIB mobilisation in the health and training sector to combat the COVID-19 pandemic

At the onset of the health crisis in 2020, the EIB provided Morocco with the first loan in the Mediterranean neighbourhood to help the authorities to combat the COVID-19 pandemic. The €200 million (MAD 2.1 billion) sovereign loan offered rapid financing for emergency medical supplies and equipment to health institutions.

The health of the Moroccan people and the modernisation of hospital services in the country were at the heart of the EU bank's action in 2020. The Moulay Youssef de Salé hospital is an example of this concrete action to offer excellent working conditions to medical personnel, as it was selected as a regional referral centre for caring for COVID-19 patients. This project forms part of an ambitious programme to rebuild, renovate and modernise a total of 16 hospitals under the Moroccan Health Ministry's hospital reform initiative.