- EBRD: €110 million loan and €5 million investment grant to Bétoya Industrial and Logistic Zone (BILZ) in Morocco for the development of a climate-resilient economic zone.
- Investment grants: $3 million from the United Kingdom under the High Impact Partnership on Climate Action (HIPCA) and $2.5 million from the Global Environment Facility (GEF).
- Technical cooperation: To promote resilient infrastructure planning, digitalization, skills development, and economic inclusion.
The European Bank for Reconstruction and Development (EBRD) has granted a €110 million loan to develop an economic zone within the Nador West Med industrial-port complex, located near the city of Nador in the Oriental Region of Morocco. This funding marks the EBRD’s third support package for the Nador West Med complex, following financing in 2015 and 2022 for port construction works.
The loan benefits from sovereign guarantees and is complemented by investment grants of €5 million from the EBRD, $3 million from the United Kingdom via the HIPCA partnership, and $2.5 million from the Global Environment Facility (GEF) under the Environmental Technology Transfer Program (ENVITECC).
Financing for Climate-Resilient Infrastructure
The funds will be used to finance:
- The development of industrial and logistics platforms within the economic zone adjacent to Nador West Med port.
- The construction of an on-site desalination plant and two wastewater treatment plants (WWTPs).
- The installation of energy-efficient public lighting.
This investment will support the use of sustainable water management solutions and energy-efficient technologies for public lighting, contributing to the creation of a climate-resilient economic zone. The project aims to unlock the economic potential of the Oriental Region, attract foreign direct investments (FDI), strengthen private sector development, and increase employment opportunities for the local population.
Digitalization & Technical Cooperation
The project includes a technical cooperation package to enhance BILZ’s digitalization through the development of a fully automated one-stop-shop for future investors in the economic zone. The cooperation program also includes support for sustainable infrastructure planning and a capacity-building program for the Nador West Med complex.
Sue Barrett, EBRD’s Director of Infrastructure for Europe, the Middle East, and Africa (EMEA), stated:
“We are delighted to continue supporting the development of the Nador West Med complex, a flagship project aimed at unlocking the economic potential of Morocco’s Oriental Region. This initiative is set to become a model for a digital and climate-resilient economic zone, attracting foreign direct investments, fostering private sector development, and creating job opportunities for the local population.”
Mohamed Jamal Benjelloun, CEO of Nador West Med S.A. and BILZ, added:
“The Nador West Med industrial-port complex will be a key driver of economic development in the Oriental Region, creating jobs and attracting industrial investments. I would like to thank the Minister of Economy and Finance, the Directorate of Treasury and External Finance, the EBRD for their continued support and trust, as well as the United Kingdom and the GEF for their contributions. Our collaboration has made this strategic project a reality, which will have a positive impact on the region.”
About BILZ & EBRD’s Role in Morocco
BILZ, a limited company incorporated in Morocco, was established in 2023 to manage and develop the economic zone adjacent to Nador West Med port in the Oriental Region. It is a 100% subsidiary of Nador West Med S.A (NWM), a state-owned company and an existing EBRD client within the Nador West Med port project.
Morocco is a founding member of the EBRD and has been receiving EBRD financing since 2012. To date, the EBRD has invested over €5.3 billion in Morocco across 112 projects.
« HIPCA is also supported by Germany, Austria, Canada, the United States, Finland, the Netherlands, South Korea, Switzerland, and Taiwan’s ICDF.«
About the EBRD
The European Bank for Reconstruction and Development (EBRD) is a multilateral bank that promotes private sector development and entrepreneurial initiatives in 36 economies across three continents. The Bank is owned by 75 countries, the European Union, and the European Investment Bank (EIB).
Source: africanmanager
