Rabat, 05/06/2007 (Agence Europe) - On Monday 4 June in Rabat, the EIB presented the results of a survey on private long term savings in Morocco and on ways to optimise savings and use savings to create growth. The survey financed by the FEMIP - the Euro-Mediterranean facility on investment and partnership managed by the EIB - shows that financial savings reached 109 billion Moroccan dirham in 2005, representing 84% of national gross savings, 28.3% of GDP and 91% of investment. This result is essentially due to transfers made by Moroccans living outside their country. The EIB recently launched an initiative aimed at providing a framework for these transfers. The study therefore calls for strengthened competition in the financial sector, the setting up of a more favourable tax regime and the lifting of certain regulatory constraints of a kind that limit the development of capital markets. It also notes that the existing instruments are not necessarily adjusted to the needs of the poorest sections of the population and that the retirement regime remains insufficiently developed. The study sets out several roads for EIB intervention, mainly through investment promotion. (fb)