CASABLANCA – Today, UK Export Finance (UKEF) announced that up to £4 billion is now available for Moroccan purchasers to invest in projects in the area, as long as at least 20% of the content comes from UK companies.
A new International Export Finance Executive (IEFE), headquartered in Casablanca, has been hired by UKEF to promote commerce between the UK and Morocco and to help UK companies expand their exports to the area. The finance would encourage investment between the two countries by assisting Moroccan buyers in obtaining support for project delivery, provided that at least 20% of the total contract value is supplied from UK suppliers.
Morocco presents a variety of economic prospects for UK companies, including prospective initiatives in the areas of energy transition, water desalination, and infrastructure, such as rail, roads, ports, and airports, which can help the local economy by establishing new transportation links.
Just a few weeks prior, UKEF declared that it will invest £2.3 billion in the continent in 2021, which is quadruple the sum it committed between 2018 and 2019. The announcement was made following the celebration of three centuries of mutual prosperity between the UK and Morocco in 2021—the 300th anniversary of their original trade agreement.
