The European Bank for Reconstruction and Development at a general meeting in Marrakesh: In Morocco, 1.6 billion euros have been invested in the private sector

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“Over the past ten years, we have invested more than 3.2 billion euros in Morocco, including more than 1.6 billion euros in the private sector,” said Antoine Salle de Chu, who spoke at one of the seminars, in the context of the 31st meeting.And The General Assembly of the European Bank for Reconstruction and Development, which continues its work in Marrakesh, until tomorrow, Thursday, May 12, 2022.

Under the High Patronage of His Majesty King Mohammed VI, 31And The General Assembly of the EBRD brings together representatives of the 73 countries and institutions that are shareholders of the EBRD, including Morocco.

During this session, Antoine Salle de Chuo announced that the European Bank for Reconstruction and Development is the most active financial institution in Morocco, under the general slogan “European Bank for Reconstruction and Development: A Successful Investment in Morocco”. The EBRD Director for Morocco also noted that the bank had granted financing, but it had also provided advisory services, particularly to small and medium-sized businesses.

He explained that the bank has supported nearly 700 small and medium-sized companies in Morocco since starting its activities in 2012 in the Kingdom, specifying that 72% of small and medium-sized companies that benefited from the advice were able to increase their sales, with a total turnover of 320 million. Euros of additional sales.

Antoine Salle de Chau also spoke about the tangible results of the bank in terms of investing in the “green sector” in the Kingdom, as well as the opportunities available to this sector, especially in terms of decarbonization, water conservation and the dissemination of new green technologies.

The EBRD Director for Morocco also highlighted the importance of strengthening social cohesion and reducing regional disparities for more inclusive growth.

Adel Sheikhi, Director of Industry, Trade and Agribusiness for the Southern and Eastern Mediterranean Region (SEMED) at the EBRD explained that SMEs and VSE companies were at the heart of the Bank’s activities, adding that the EBRD was keen to adapt its offerings to This category. One of the companies capable of developing.

He also highlighted the importance of providing advice to these companies, particularly with regard to technical assistance. “If a company does not have access to the appropriate expertise and technical knowledge, it will not be able to realize its great potential,” he said.

Adel Al-Sheikhy also noted that the EBRD ensures that its products are adapted to the needs of these companies on the ground “at the right time and at the right speed.”

Hassan Belkhayat, an investor in Southbridge A&I, emphasized that Morocco is a big investment country, adding that it has a high investment rate in light of these weighting factors: stability, geographic location, infrastructure and skilled labour.

He said the country is safe to invest in, citing successful foreign investment in the sectors of agriculture, industry, automobile and offshoring as examples.

For Hassan Belkhayat, the kingdom has responded well to the epidemic, both in terms of banking and financing, and “from the point of view of the private investor, it is reassuring to see that the state supports the private sector in the event of major shocks.”

It was the first physical EBRD gathering since Sarajevo in 2019, 31And The general meeting, themed “Facing Challenges in a Turbulent World,” is an opportunity to discuss global challenges such as supporting economic growth, combating climate change and enhancing the business environment in the regions in which the Bank invests.

Parallel to its General Assembly, the EBRD will hold its own Business Forum, which emerges as a suitable platform to explore investment opportunities and establish lasting business relationships.

Participants in the Business Forum panels address a variety of topics: digitalisation, sustainability, the transition to a green economy, mobilizing private capital, equality and inclusion, among other topical issues.

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