The work of the 31st Annual General Meeting (AGM) of the European Bank for Reconstruction and Development (EBRD), officially opened this Wednesday in Marrakech, in the presence of the Head of Government, Aziz Akhannouch.
The meeting, held in Marrakesh, started with participants talking about the Ukrainian crisis, its economic and social repercussions on the world on the one hand, and the investment climate in Morocco on the other, while discussing the European Bank’s contribution to supporting development in the North African region.
The cumulative investments of the European Bank for Reconstruction and Development (EBRD) in the private sector in Morocco have reached 1.6 billion euros since 2012, said Tuesday Antoine Salle de Chou, EBRD Director for Morocco.
“Over the past 10 years we have invested more than 3.2 billion euros in Morocco, including more than 1.6 billion euros in the private sector,” said Salle de Chou at a panel in Marrakesh, held as part of the 31st EBRD General Assembly.
The EBRD is the most active financial institution in Morocco, he highlighted, noting that the Bank provides funding but also offers advisory services including for small and medium-sized enterprises (SMEs).
The regional director raised that the Bank has supported nearly 700 Small and Medium Enterprises in Morocco since the start of its activities in 2012, stating that 72% of SMEs have benefited from advice that allowed them to increase turnover, creating a total of 320 million euros of additional added-value.
The official also highlighted the “tangible results” of the Bank’s activity in the Kingdom, mainly its investment in the “green sector” as well as the opportunities of this sector especially in decarbonization, water conservation and deployment of new green technologies.
It is expected that the forum will witness a high-level session on the war on Ukraine, as well as a vote on a resolution on expanding the Bank’s work in sub-Saharan Africa.
Meanwhile, Moroccan Head of Government Aziz Akhannouch and the Minister of Economy and Finance are holding talks with a number of personalities and officials from the world of finance and business.
Delegates from 57 countries are participating in this forum, headed by finance ministers and central bank governors, as well as representatives of the private sector and national and international media.
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