The European Bank for Reconstruction and Development (EBRD) is investing in Morocco’s maritime sector with a loan of up to MAD 690 million ($68.2 million) to Marsa Maroc SA.
The EBRD loan will finance increases in the capacity of the multipurpose terminals at the ports of Casablanca and Jorf Lasfar, helping to fund infrastructure work aimed at extending their handling capacity, as well as supporting the acquisition of hybrid cranes and electric rail cranes.
This will reportedly enable the expansion and operational optimisation of these terminals, enhancing the competitiveness of the Moroccan economy.
The acquisition and operation of more efficient electric rail cranes and the increase in capacity are expected to result in greater energy efficiency, with a reduction in greenhouse gas emissions per unit of cargo handled.
At the same time, the civil works on the Jorf Lasfar multipurpose terminal will integrate climate resilience measures into the quay design to reduce sensitivity to sea-level rises.
This loan will benefit from the first loss risk cover provided by the European Union (EU) through its European Fund for Sustainable Development Plus (EFSD+) under the Municipal Infrastructure and Industrial Resilience (MIIR) guarantee programme.
The EBRD will also support the digital transformation of Marsa Maroc through EU-funded technical cooperation activities, which will include the development and implementation of digital solutions at the Casablanca multipurpose terminal, as well as a gender-responsive digital upskilling training programme for employees.
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The loan agreement was signed by Odile Renaud-Basso, President of the EBRD, and Tarik El Aroussi, the CEO of Marsa Maroc.
The EBRD has invested almost €5 billion ($5.2 billion) in Morocco through 106 projects to date. The Bank’s focus in Morocco is on supporting sustainable energy, direct and indirect financing of private enterprises, infrastructure reform and non-sovereign financing.
President Renaud-Basso said: “We are proud to be supporting Marsa Maroc on this transformative journey, contributing not only to the modernisation of critical infrastructure but also to the promotion of inclusive and sustainable growth in Morocco’s maritime sector.
“With over 95 per cent of the country’s trade being conducted through sea ports, the maritime sector is a cornerstone of Morocco’s economic development.”
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Patricia Llombart, EU Ambassador in Morocco, added: “With this joint operation, the EU shows its continuous commitment to accompany the Kingdom of Morocco in boosting sustainable infrastructure as well as digital transition. The EU and Morocco are committed to greening industrial value chains and maritime corridors.
“The Morocco-EU Green Partnership allows us to move further in our joint commitment to address climate change, including with a decarbonised economy. Moroccan ports are key to decarbonise maritime transport and international trade.”
Earlier this summer, Marsa Maroc and the Port of Nador West Med (NWM) signed a 25-year concession agreement to operate the 3.4 million TEU Eastern Container Terminal.
