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EIB Vice President soon in Morocco

The Vice President of the European Investment Bank (EIB) in charge of Maghreb Bank activities, Emma Navarro, will make her first visit to Morocco on March 11th and 12th, a statement from the EIB said Friday.

During this visit, Navarro will meet with members of the government as well as representatives of the diplomatic and financial world and will sign a financing agreement to strengthen Morocco’s highway infrastructure and a memorandum of understanding with the Caisse Centrale de Garantie, specifies the same source.

“Morocco is a key partner of the European Union and the European Investment Bank. The EIB, which is celebrating 40 years of cooperation with Morocco this year, stands ready to support over the long term ambitious plans and strategic investments of the Kingdom, which will contribute to strengthening sustainable growth and social cohesion while developing employment in the country,” said Navarro, quoted in the statement.

Since 2007, the European Investment Bank has invested close to € 5 billion in investments for the implementation of new projects in key sectors of the Moroccan economy, such as urban transport, energy private sector, water and sanitation, and youth education.

Morocco is the second largest beneficiary of EIB financing among neighboring Southern European countries with 25% of the bank’s total investment in the region, the source said.

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