Rabat, June 29 (QNA) - The European Investment Bank (EIB) Group President Nadia Calvino announced the bank's plans to invest EUR 700 million in Morocco this year.

During her visit to the country, Calvino said that the EIB's partnership with Morocco is gaining remarkable momentum.

Over the past five years, the EIB has doubled its financing in the Kingdom three times, the EIB President said, adding that the group wants its investments there to exceed EUR 700 million this year.

Operating in Morocco since 1979, the EIB has invested more than EUR 12 billion in a range of sectors, including energy security, innovation, and education, she added.

The EIB President highlighted some of the bank's major project investments in Morocco, including the Tangier Med Port, the Noor Concentrated Solar Power Complex, the Euromed University of Fes, and the Medusa submarine cable system. 

This momentum reflects a strong alignment between both sides' priorities, whether in strengthening infrastructural resilience by modernizing transport networks, supporting the private sector, or advancing education, she noted. (QNA)