EBRD expands operations in Morrocco, Bank VP leads ribbon-cutting ceremony

EBRD expands operations in Morrocco, Bank VP leads ribbon-cutting ceremony

LONDON, 25-Sep-2017 — /EuropaWire/ — The EBRD’s Vice President of Banking, Alain Pilloux, is to visit Morocco from 25 to 29 September for meetings with government officials, businesses and project signings.

Mr Pilloux’s visit also marks the expansion of the EBRD’s activities in the country with the opening of a second office in Tangier, a coastal town in the north of the country and a gateway to international markets. The EBRD has been operating successfully in Morocco since 2012.

During his visit Mr Pilloux will meet Prime Minister Saadeddine Othmani; Minister of Economy and Finance and EBRD Governor, Mohammed Boussaid; Minister of Industry, Moulay Hafid Elalamy; and Minister of Agriculture, Aziz Akhannouch.

He will also meet the Vice President of the Confédération Générale des Entreprises du Maroc (CGEM), Fayçal Mekouar, and the General director of the Office National de l’Electricité et de l’Eau Potable (ONEE), Ali Fassi-Fihri.

Meetings will also be held with the business community and EBRD clients. The EBRD’s delegation also includes Janet Heckman, EBRD Managing Director for the Southern and Eastern Mediterranean (SEMED); Marie-Alexandra Veilleux-Laborie, EBRD Director for Morocco; and Elisabetta Falcetti, Director for Sector Economics and Policy.

Mr Pilloux will also sign an EBRD-funded project in the financial sector as well as a Memorandum of Understanding to strengthen local currency lending to small businesses.

Ahead of the visit, Mr Pilloux said: “This visit demonstrates our continued support for the Moroccan economy and our commitment to driving forward the green economy and the development of the private sector. I look forward to the discussions on how we can work together even more closely and effectively.  We are the first multilateral development bank opening an office in Tangier, which will cover the northern region of the country. This marks a key milestone and will strengthen our outreach in the country.”

Tangier is the capital of the Tanger-Tetouan-Al Hoceima region. Its local economy is based on a network of small and medium-sized enterprises (SMEs) and manufacturing industries in the textiles and leather, agribusiness and automotive sectors. In addition, the port of Tangier Med is the second African port located 14 km from the European continent.

Morocco is a founding member of the EBRD and became a country of operations in 2012. To date, the Bank has invested over €1.2 billion in more than 30 projects in the country. The Bank has also supported more than 340 Moroccan SMEs by providing business advisory services.

SOURCE: EBRD

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