EBRD, United Kingdom and GEF support Nador West Med port complex
The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of €110 million to support the development of an economic zone within the Nador West Med industrial port complex , which is located near the city of Nador in Morocco's Oriental region. This is the Bank's third investment in the Nador West Med complex, following the provision of financing in 2015 and 2022.
The Bank's loan to Betoya Industriel and Logistic Zone (BILZ) is backed by a sovereign guarantee and is complemented by three investment grants: €5 million from the EBRD; US$ 3 million (€2.8 million) from the United Kingdom under the High-Impact Partnership on Climate Action (HIPCA); and US$ 2.5 million (€2.3 million) from the Global Environment Facility (GEF) under the Environmental Technology Transfer programme.
This financing package will support land development work for industrial and logistics platforms within the economic zone adjacent to Nador West Med port, as well as helping to finance an on-site desalination plant, two wastewater treatment plants and energy-efficient street lighting.
The financing will promote the use of sustainable water management solutions and energy-saving technologies for the economic zone's public lighting, contributing to the climate resilience of the zone. The development of this zone is expected to unlock the economic potential of the Oriental region, attracting foreign direct investment, boosting private-sector development and creating employment opportunities for the local population.
The EBRD is also providing a technical cooperation package to support BILZ's digitalisation efforts, helping to establish a fully automated one-stop-shop for future investors in the economic zone. This package also includes support for the development of a sustainable infrastructure plan and the rollout of a capacity-building programme for the Nador West Med complex.
Sue Barrett, Director of the EBRD's Europe, Middle East and Africa (EMEA) Infrastructure team, said: 'We are delighted to continue to support the development of the Nador West Med complex, a landmark project that is set to unlock the economic potential of Morocco's Oriental region. This project is expected to be a replicable model of a climate-resilient digital economic zone, attracting foreign direct investment, furthering private-sector development and creating job opportunities for the local population.'
Mohamed Jamal Benjelloun, Director General of Société Nador West Med S.A. and BILZ, said: 'The Nador West Med industrial port complex will be a key driver of the economic development of the Oriental region, creating jobs and attracting industrial investment. I would like to thank the Minister for Economy and Finance and the Treasury and External Finance Department for their unwavering support, the EBRD for its continued support and confidence, and the United Kingdom and the GEF for their contributions. Our collaboration has made this strategic project a reality, which will have a positive impact on the region.'
BILZ is a state-owned limited liability company that was established in Morocco in 2023 to manage and develop the economic zone adjacent to Nador West Med port. BILZ is a wholly owned subsidiary of Société Nador West Med S.A. – also a state-owned limited liability company and an existing client of the EBRD under the Nador West Med port project.
Morocco is a founding member of the EBRD and became a recipient of Bank financing in 2012. To date, the EBRD has invested more than €5.3 billion in the country through 112 projects.
*HIPCA is also supported by Austria, Canada, Finland, Germany, the Netherlands, South Korea, Spain, Switzerland, the TaiwanICDF and the United States of America.
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