EIB finances 365 million euros to boost railway and road connections in Morocco

The European Investment Bank (EIB) and the Moroccan government have finalized a significant financing agreement totaling 365 million euros ($416 million USD). This substantial funding is earmarked for the crucial enhancement of both railway and road transportation networks across Morocco.

Nadia Calviño, President of the EIB, announced the agreement during a two-day visit to Morocco, where she held meetings with key government officials, including Finance Minister Nadia Fettah and Foreign Minister Naser Burita. Calviño emphasized Morocco's position as a "first-tier strategic partner" for the European Union, particularly for Spain, and noted the considerable investment portfolio the EIB maintains within the country.

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It is clear that Morocco is a first-tier strategic partner for the European Union and very especially for Spain, and we have a very important portfolio of investments in the country.

Over the last four years, the EIB has reportedly tripled its financing for Morocco, supporting a diverse range of projects encompassing transport infrastructure, water management, and education. Calviño underscored Morocco's vital role in the stability and security of the wider West African region and, by extension, the southern border of Europe. She stated that continued investment in infrastructure is essential for creating opportunities for the young population and fostering greater economic and social stability in Europe's neighborhood.

The agreement underscores the deepening economic ties between the EU and Morocco, with a focus on developing infrastructure that can support sustainable growth and regional connectivity. The investment is expected to yield long-term benefits for the Moroccan economy and its citizens.

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Morocco plays a fundamental role in the stability and security of the entire West African region and therefore on the southern border of Europe, and for that reason it is fundamental that we continue to maintain a positive relationship and that we continue, as far as possible, investing in infrastructure that gives opportunities to the young population and also gives greater economic and social stability in Europe's neighborhood.