“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 Sallé de Chou who spoke during a panel, held within the framework of the EBRD’s 31st General Meeting.
The EBRD is the most active financial institution in Morocco, he said during this panel placed under the theme “EBRD: Successful investment in Morocco”, noting that the Bank grants financing but also offers services in consulting, particularly for small and medium-sized enterprises (SMEs).
In this regard, he pointed out that the Bank has supported nearly 700 SMEs in Morocco since the start of its activities in 2012 in the Kingdom, specifying that 72% of SMEs who have benefited from the advice have been able to increase their turnover, creating a total of 320 million euros of additional turnover.
The official also highlighted the tangible results of the Bank in terms of investment in the “green sector” in the Kingdom as well as the opportunities of this sector, particularly in terms of decarbonization, water conservation, and deployment of new green technologies.
In addition, Sallé de Chou highlighted the importance of strengthening social cohesion and reducing regional disparities for more inclusive growth.
For his part, Adil Chikhi, director of industry, trade, and agribusiness for the Southern and Eastern Mediterranean region (SEMED) at the EBRD, noted that SMEs and VSEs are at the heart of the activities of the Bank, adding that the EBRD takes care to adapt its offers to this category of companies capable of developing.
In this sense, he highlighted the importance of advice for these companies, particularly in terms of technical assistance. “If the company does not have access to the right expertise and technical know-how, it will not be able to realize its high potential”, he said to this effect.
Chikhi noted that the EBRD ensures that its products are tailored to the needs of these companies on the ground “at the right time and at the right speed”.
For his part, Hassan Belkhayat, investor of Southbridge A&I affirmed that Morocco is a major investment country, adding that it has a high investment rate given the factors of stability, geographical position, infrastructure, and skilled labor.
The country is safe to invest in, he said, pointing to successful foreign investments in the agricultural, industrial, automobile, and offshoring sectors.
He further noted that the Kingdom has reacted well to the pandemic in terms of banking and finance (guarantees made in this sense), adding that “from a private investor’s point of view it is reassuring to see that the State supports the private sector in the event of major shocks”.
Placed under the High Patronage of King Mohammed VI, the 31st General Assembly of the European Bank for Reconstruction and Development, continuing until May 12 in Marrakech, brings together representatives of the 73 countries and institutional shareholders of the Bank, including Morocco.
