Morocco and the Netherlands have established a investment fund worth 300 million euros, equivalent to 3.2 billion dirhams, with the aim to finance infrastructure projects, fostering development and growth in the country.
The agreement was signed in Salé, with the presence of high-ranking officials including Aziz Akhannouch, the Head of Government of Morocco, and Mark Rutte, the Prime Minister of the Netherlands.
Rutte’s visit to Morocco, accompanied by a delegation of ministers and businessmen, marks an official visit to further strengthen the bilateral ties between the two nations.
Alexandre Dugay Wortman, responsible for overseeing projects in Morocco, Guinea, and Senegal at the investment fund “Invest International,” provided insight into the structure of the fund. Wortman explained that 35 percent of the allocated amount is in the form of grants, while the remaining portion comprises loans.
He further detailed that the fund will primarily finance projects related to water and renewable energies. Wortman highlighted the Netherlands’ keen interest in investing in green hydrogen and expressed optimism about exploring potential investments once Morocco presents its new plan in this domain.
Notably, the Netherlands aims to collaborate with the Mohammed VI Investment Fund to identify suitable investment projects. Discussions have also taken place with the National Ports Agency to assess requirements for port infrastructure, leveraging the Netherlands’ expertise in this area.
Fortman emphasized that the allocation of this investment fund aligns with Morocco’s new development model, supporting the nation’s efforts to tackle water scarcity through the construction of water treatment plants and pumping stations. Over a span of three years, the fund will inject 300 million euros into various programs, with the possibility of additional financial allocations based on project evaluations.
The Netherlands stands as the fifth-largest foreign investor in Morocco, with approximately 70 Dutch companies actively operating in the kingdom across diverse sectors.
Reflecting on the historical ties between Morocco and the Netherlands, Akhannouch underscored the long-standing relationship between the two nations, dating back centuries. He highlighted the signing of the first treaty of friendship and trade in 1610, emphasizing the enduring strength of their relations in overcoming challenges and seizing opportunities.
During the signing ceremony, Akhannouch acknowledged the significant Moroccan community residing in the Netherlands, commending their successful integration into Dutch society. He also expressed gratitude for the Netherlands’ support of Morocco’s autonomy proposal to resolve the Sahara conflict.
Trade exchanges between the two countries reached approximately 1.7 billion euros (18.5 billion dirhams) in the previous year. Akhannouch urged for increased investment and trade, emphasizing the untapped potential for collaboration. He emphasized that the Netherlands could play a pivotal role in strengthening the strategic partnership between Morocco and the European Union. Akhannouch further emphasized the need to sustain dialogues on security, justice, and migration for mutual benefit.
Dear All; whenever I look at the level of cooperation in trade, cultural development and political cooperation……..I am amazed that it is so little. Every time I think how is that possible? from 1610 diplomatic relations and ver under 1.5 billion in trade exchanges. That’s realtime crazy. OK. now it’s time!!!!!! Let’s make it beter??????????????????????????????????