The European Investment Bank’s first official visit to Morocco under President Nadia Calviño has spotlighted the North African nation’s strategic importance as a connector between Africa and Europe. During her three-day mission coinciding with the 21st anniversary of the BEI’s permanent presence in the country, Calviño held high-level discussions with key Moroccan officials.
Morocco emerges as a strategic partner for Europe
In her concluding meetings with Nasser Bourita, Morocco’s Minister of Foreign Affairs, African Cooperation and Moroccans Residing Abroad, Calviño reaffirmed the BEI’s commitment to supporting Morocco’s growth trajectory. She characterized the country as “a strategic partner for Europe”, emphasizing its role as “a pillar of stability, shared security and prosperity” across the African continent and Europe’s southern neighborhood.
The visit marked a significant milestone in strengthening the strategic partnership between the BEI and Morocco, with Calviño recalling how this relationship has evolved over nearly five decades of cooperation.
A dedicated transport investment plan
Calviño also met with Nadia Fettah, Morocco’s Minister of Economy and Finance, to review the European institution’s investment blueprint for the country. The visit culminated in the signing of several agreements combining loans and grants totaling €365 million, exclusively earmarked for Morocco’s transport sector.
This funding initiative breaks down into €15 million in European grants dedicated to climate adaptation measures for the national railway network, managed by the Office National des Chemins de Fer. Additionally, a €50 million loan from the BEI will support these railway resilience efforts. The remaining €300 million will enhance the resilience and safety of Morocco’s highway network, administered by the Société Nationale des Autoroutes du Maroc.
These investments align with the BEI’s broader strategy to promote safer, more sustainable transport infrastructure across its partner countries.
A legacy of transformative investment
Over the past 50 years, the BEI has mobilized over €12 billion in financing for Morocco, supporting diverse sectors including SMEs, renewable energy, healthcare, water management and education. During her visit, Calviño made a symbolic stop at a public school in Rabat, where she observed a musical performance by students participating in the “Morocco 88” initiative. This extracurricular music program in Moroccan high schools promotes youth development, social cohesion and educational advancement, with support from both the Moroccan Ministry of National Education and the European Investment Bank.
The BEI President also highlighted Morocco’s economic reforms under King Mohammed VI, which have strengthened the country’s macroeconomic framework and financial stability. These reforms have bolstered international investor confidence and enabled large-scale investment mobilization.
