EBRD board of directors to validate new strategy for Morocco

The European Bank for Reconstruction and Development (EBRD) is working on its new strategy for Morocco for 2022-2027, following its 31st Annual Meeting held from May 10 to 12 in Marrakech.

The new roadmap will focus on three or four key priorities defined in cooperation with the government and in consultation with the private sector.

It is essential to promote a more inclusive economy, especially for women, youth, and electronic payments, through the acceleration of digital transformation.

The Bank’s Board of Directors is expected to approve the new EBRD strategy by the summer, which will be aligned with the objectives of the government’s reform program and the orientations of the new development model, declared the bank’s Morocco branch director, Antoine Salle de Chou.

On the sidelines of the meeting speaking to the press, de Chou stated that « during the next five years, the EBRD aims to maximize its financing in Morocco and exceed the annual average currently ranging between 200 and 300 million euros. »

This amount was exceptionally raised back in 2020, when the EBRD granted 742 million euros to the Kingdom to support its fight against COVID-19.

During the 31st meeting in the Moroccan Ocre city, the bank announced that Moroccan banks will now benefit from the expertise of the EBRD in climate and environmental risk management.

Morocco’s Central Bank of Morocco (Bank Al-Maghrib) and the Groupement professionnel des banques du Maroc (GPBM) penned a partnership, aiming to raise awareness and build the capacity of regulated stakeholders on the topics of climate and environmental risk management, as well as the promotion of green finance.

« Green, inclusive and digital » are the three main axes of the Strategic and Capital Framework 2021-25 of the EBRD, which it plans to bolster Morocco, as a nation-leading in green transition and digitalization.