The European Investment Bank (EIB) plans to invest more than €700m in Morocco in 2026, its President Nadia Calviño has said. She said the bank’s lending in Morocco has tripled over the past five years as cooperation between Morocco and the European Union continues to grow.
The EIB has worked in Morocco since 1979 and has invested more than €12bn in the country, making Morocco one of its biggest investment destinations outside the European Union.
Ms Calviño said Morocco and the EU are working together to improve transport, energy, education and support for private businesses. She said the bank provides loans, technical assistance, grants and EU guarantees to help fund these projects.
“The partnership between Morocco and the European Investment Bank Group is accelerating,” she said.
Among the EIB’s biggest investments is the Tanger Med port. The bank provided €240m through two loans to help expand the port, which now handles up to nine million containers a year, making it the largest transshipment port in the Mediterranean.
The bank also invested €100m in the first phase of the Noor Ouarzazate solar power plant. The project now generates enough clean electricity to supply around 250,000 people.
Another €100m loan, together with a €40m grant from the European Commission, helped finance the 7,100-kilometre Medusa undersea fibre optic cable linking North Africa and Europe. The network connects 12 landing points, including two in Morocco, and serves around 500 universities and 4.5 million students.
The EIB also provided €70m to build the Euro Mediterranean University of Fez. The funding helped build research laboratories, libraries and sports facilities, creating space for more than 6,000 students.
More recently, the bank approved €115m to modernise 10 MEDZ technology parks, a project expected to create 51,500 jobs. It has also committed €1bn to help Morocco rebuild schools, hospitals and rural roads after the High Atlas earthquake.
Ms Calviño said the EIB will take over the presidency of the multilateral development banks in 2027.
“We want to promote partnerships based on trust, shared priorities and real results,” she said.
