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European Investment Bank hails co-operation with Morocco

Sunday, 06 June 2010 20:19

Philippe de Fontaine Vive, vice-president of the European Investment Bank (EIB) praised the level of financial co-operation between the Bank and Morocco.

De Fontaine Vive said, at a meeting of the European Parliament's delegation for relations with the Maghreb countries, that the EIB has a bureau in Rabat since 2005, which coordinates between public authorities, borrowers, the banking sector and donors.

He also announced that a regional conference will be organised in Morocco next year on the progress of private-public partnerships (PPP) in all the Mediterranean countries.

The PPP is extremely important, whether in Europe or in the Maghreb, he went on to say, adding that the EIB has commissioned, in 2010, the first study which assesses the legislation and its enforcement in each Mediterranean country.

On aspects of co-operation with Maghreb countries, de Fontaine Vive pointed out that the Bank finances projects of modern transport means such as the Rabat tramway and contributes to developing the region’s ports, particularly Morocco’s Tanger-MED.

As regards the renewable energy sector, especially the Mediterranean solar plan, of which the Maghreb is an essential component, he noted that the first solar plant will be built in the southern city of Ouarzazate.

He also cited, in particular, the Bank’s financial contribution to the urban development of the Bouregreg river (Rabat) and the creation of new cities.

De Fontaine Vive also stressed that small and medium-sized businesses constitute a priority for the IEB. In this regard, he announced that a regional conference will be held in Tunisia to examine various issues related to these businesses.(MAP)

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