Instruments for Economic Growth in the Maghreb

14 July 2014. From 09:00 | Workshop | Catalan | Seu de Foment del Treball Nacional, Barcelona

With the aim of making visible the options for the internationalization of the economy towards countries on the southern shore of the Mediterranean, the IEMed is collaborating with Fomento del Treball in a session that brings together representatives of the European Investment Bank and of the African Development Bank with Catalan companies.

The European Investment Bank (EIB) is the financial body of the European Union (EU). This institution grants a total of 60 billion euros a year in loans. The EIB financed projects in Morocco between 2002 and 2012 worth 2.6 billion euros, in sectors such as energy, the environment, SME financing, transport, water and industry. As an example, since 2002 the EIB has financed the construction of 10,000 km of roads worth 1 billion euros. The EIB finances projects worth 2 billion euros in the period 2012-2016.

The African Development Bank (AfDB) is the multinational bank responsible for promoting the economic development and social progress of African countries. From 2012 to 2016, the AfDB projects in Morocco focused on the agricultural sector, energy (especially renewables), education, health, water and transport for a total value of 2.2 billion. euros, about 23% of global development cooperation funds in this country. As an example, in 2012 the AfDB approved a loan of 105 million euros for the reform of the agricultural sector in the framework of the program of support for the ‘Green Morocco’ Plan, with the aim of attracting up to 10 billion euros. euros of private investment in the agricultural sector.

In the session, the representatives of these multilateral financial institutions set out the priorities in the Mediterranean region, identify potential growth sectors and explain the range of financial instruments they deploy to boost economic growth in the Maghreb, and especially in Morocco.