EU Pledges $9.2 Billion Investment in Morocco’s Economy Over 7 Years
Over the next seven years, the European Union plans to increase its investments in Morocco to the tune of 8.4 billion euros ($9.2 billion), to support several vital sectors of the national economy.
This investment commitment, which aims to support digital transformation and small and medium-sized enterprises, job creation, sustainable agriculture and renewable energy, represents a significant increase compared to the 1.6 billion euros announced by the European Commission earlier this month, reports Reuters.
For Oliver Várhelyi, Commissioner for Neighbourhood and Enlargement, this is part of a plan called Global Gateway and aims to increase connectivity between the European Union and its partners.
Following the talks he had with Moroccan Foreign Minister Nasser Bourita, the official explained that international financial partners, the Moroccan private sector and Israel will also contribute to this investment effort.
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