Industry, Commerce and Agribusiness

MOROCCODRIVING THE TOURIST SECTOR

We are supporting the development of Morocco’s tourism sector with a €10 million investment in Alliances Hotel Investment SA, a subsidiary of Alliances Group, for the construction and operation of up to four hotels in Morocco.

Tourism is the country’s top foreign currency provider, the second-largest contributor to GDP and the second-largest creator of jobs in the country. It is a driving force behind Morocco’s recent economic growth and a major contribution to social and regional development.

The first two hotels will be developed in Casablanca and Marrakech, while the other hotels will be developed in cities such as Tangier, Rabat or Oujda.

Our investment comes under the Local Enterprise Facility (LEF), a €400 million facility for investments in enterprises in Albania, Bosnia and Herzegovina, Bulgaria, Croatia, FYR Macedonia, Kosovo, Montenegro, Romania, Serbia and Turkey, as well as countries in the southern and eastern Mediterranean region (Egypt, Jordan, Morocco and Tunisia). The facility provides a wide range of flexible financial products, including equity, quasi-equity and debt financing to address the needs of companies and the real economy. The LEF is supported by the SEMED Multi-Donor Account.

72%

private sector share of EBRD investment in Morocco

€402 million

current portfolio of projects in the country