MIL OSI Translation. Government of the Republic of France statements from French to English
Source: European Investment Bank
Disbursement accelerated loans to help companies lacking liquidity.
Mobilizing existing lines of credit to provide the working capital necessary for enterprises while strengthening our support for the public sector.
The support of the private sector is at the heart of the mobilisation of the EIB in Morocco, in particular via its lines of credit with financial institutions from a moroccan whose stock stands at 440 million euros. These lines of credit dedicated to financing the private sector would be able to provide the working capital and the liquidity necessary for businesses to continue their activity. In parallel to this aid of instant cash, the EIB has decided to speed up exceptionally, the disbursement of loans already signed to support small and medium-sized enterprises.
The EIB is ready to further strengthen its support and expertise to the health sector for the acquisition of the necessary medical equipment and also the strengthening of health infrastructure. The EIB is strongly committed on this funding and we are already in talks with the Ministry and our partners to provide the necessary support.
The objective of this high level of mobilisation is to support the implementation of projects that may be of help to concretely and quickly moroccans to fight daily against the Covid-19 in both economic and health purposes. It is part of the network Team Europe at the initiative of the european Commission aims to help the country out of the EU to deal with the pandemic of the Covid-19. The EIB has announced today that it will contribute to a total of 5.2 billion euros.
“The Bank of the european Union is more than ever mobilized to help Morocco to deal with this pandemic.” said Emma Navarro, Vice-President of the EIB. And added : “one of The economic consequences immediate of this pandemic is the sudden lack of liquidity faced by small and medium-sized enterprises. This is why since the beginning of the crisis, we are listening to business leaders and project leaders to provide practical support and responsive. We have relaxed our procedures to unlock very quickly funding in the face including the lack of liquidity. We customize our tools and means of financing. “And to conclude :” In the area of health, after having financed the construction and upgrading of many hospitals, our goal is to support the Kingdom in facing the important needs of medical equipment. “
The health of citizens and the modernization of medical infrastructure are at the heart of the priorities of the Bank of the european Union. Morocco and € 70 million of funding that have been devoted to the construction and modernisation of 16 hospitals* throughout the Kingdom with the key equipment at the cutting edge of technology for many hospitals and infrastructure that enable staff to work in better conditions.
The EIB is a privileged partner of Morocco for 40 years. By 2019, more than 300 million euros of the investments that have been devoted to the implementation of projects in key sectors of the moroccan economy such as business support, agriculture, water and sanitation, transport and renewable energy.
*Hospitals : EL JADIDA, KHENIFRA, TÉMARA, SALÉ, TAN TAN, OUARZAZATE, ERRACHIDIA, TAROUDANNT, EL KELAA, ESSAOUIRA, TAZA, LARACHE, CHEFCHAOUEN, TANGIER, TETOUAN, KENITRA.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure is not be perfect.