On Tuesday 19 June, the EU and Morocco launched the External Investment Plan (EIP) in Morocco.
According to a press release from the European Commission, the goal of the EIP is to increase trade opportunities and to improve job creation and the development of the private sector and inclusive growth, enabling the mobilisation of private funds.
The EIP is based on the new European Fund for Sustainable Development, which is equipped with €4.1 billion to support sustainable development in the countries of sub-Saharan Africa and the countries participating in the European neighbourhood policy. A European source told EUROPE that there was no specific country envelope per country for Morocco.
According to the Commission, technical assistance is provided for in order to contribute to the improvement of the quality of projects and to mobilise investments from financial institutions, public institutions and private investors. Assistance will also be given to public authorities to promote a more supportive economic environment overall through better policy making and legislation, in discussion with the private sector.
In all, the European Commission hopes that €44 billion will be mobilised under the EIP between 2017 and 2020 for Africa and the EU's neighbouring countries. (Original version in French by Camille-Cerise Gessant)