Thursday 2 February 2023

Morocco-Spain: Pedro Sanchez Announces New €800 MM Financing Protocol

Morocco-Spain: Pedro Sanchez Announces New €800 MM Financing Protocol

President of the Spanish government Pedro Sanchez announced on Wednesday in Rabat during the Morocco-Spain Economic Forum, a new financing protocol worth 800 million euros (MM€) for joint projects in Morocco.

These projects will be carried out by Spanish companies in Morocco, said Sanchez who spoke at the forum alongside the Head of Government Aziz Akhannouch, stressing that Spain and Morocco share the ambition to move forward in terms of bilateral relations, including with the 24 agreements to be signed.

These relations, he argued, are in the interest of Morocco and Spain, but also of Europe.

Meanwhile, Sanchez recalled that Spain is the third foreign investor in Morocco and welcomed the level of trade between the two countries.

Organized on the sidelines of the 12th Morocco-Spain High Level Meeting (HLM), at the initiative of the General Confederation of Moroccan Business (CGEM), the Confederación Española de Organizaciones Empresariales (CEOE) and the Economic Council of Morocco and Spain (CEMAES), this forum was an opportunity to discuss the question "How can Moroccan and Spanish companies together seize the opportunities presented by the reconfiguration of global value chains? " and « Energy transition, environment and circular economy, key sectors of Morocco-Spain economic partnership".

Sanchez will co-chair with Akhannouch this High Level Meeting, which is held eight years after the last session of this institutional mechanism.

This meeting is part of the strategic partnership and the new dynamic that relations between the two kingdoms following the visit of Sanchez to Morocco last April at the invitation of HM King Mohammed VI.

MAP: 02 February 2023