Morocco is a great investment destination apart from having great appeal as the main gateway for investment in Africa and one of the good options for attracting capital to the North African country is the UK. This North African country has great potential for sustainable investment, environmentally friendly energy generation and investment opportunities are readily available.

The British Export Finance public agency, in the form of the British Government’s export credit agency, announced in a press release that it will allocate no less than 51.5 billion dirhams (MMDH), or 4.83 billion dollars, to promote trade between Morocco and America. Kingdom. The announcement comes as the export credit agency appointed a new International Export Financing Executive (IEFE) in Casablanca, providing a boost to UK exporters with a minimum of 20% of the total contract value awarded to UK suppliers with any overseas project funded by UK Exports. Finance (UKEF).

To facilitate trade between the UK and Morocco, UKEF has appointed Casablanca-based IEFE to help create new opportunities so that British companies can export to the region. The funding will increase investment between the two countries by helping Moroccan buyers obtain support for the implementation of projects for which at least 20% of the total contract value comes from British suppliers.

UKEF acting chief executive Samir Parkash said: “I am proud that UKEF is playing a leading role in strengthening the historic trading relationship between the UK and Morocco, with a presence on the ground and support from our International Finance team. “British companies have the opportunity to do more business with Morocco, a country that is working towards a more sustainable future, and we look forward to supporting projects in the region.” Morocco offers a variety of opportunitiesfor UK businesses, such as potential projects in the energy transition, water desalination and infrastructure including rail, roads, ports and airports to boost the national economy through new transport links. The announcement comes just weeks after UKEF announced that it had channeled $2.8 billion into the continent in 2021, triple the amount invested between 2018 and 2019. This announcement follows the celebration of the 300th anniversary of the first trade agreement between the two countries.

British Ambassador to Morocco Simon Martin said: “It is great news that UKEF now has dedicated resources in Morocco. The challenge now lies with Moroccan buyers to implement their projects. With UKEF’s support, we can see a new wave of investment in Morocco’s infrastructure, renewable energy and other sectors. I am very excited to see how this develops and I hope our partnership with Morocco continues to grow.”.

IEFE’s appointment in Casablanca is UKEF’s latest achievement in expanding its global network and generating new business for UKEF and UK companies. Currently the company has 18 managers spread across America, South Asia, Asia Pacific and Africa, and plans to increase that number to around 30 managers next year.Working closely with foreign buyers, financial lenders, the UK trade commissioner and the British ambassador, IEFE engages with foreign governments and international companies looking to buy in the UK.creating significant business opportunities for UK businesses.

He also reminded that Morocco offers several opportunities to British companies, such as potential projects in the energy transition, desalination and infrastructure such as railways, roads, ports and airports, to increase the country’s economic growth through new transport networks.The agency highlighted that the announcement came after the two countries commemorated the 300th anniversary of the signing of the first trade agreement between the two countries.

UK Export Finance (UKEF) has a multi-billion pound capacity to support projects in UK-supplied African markets and can offer financing in up to 12 African currencies.This can help foreign countries access funding, loans and insurance to realize their projects, if they commit to buying goods and services from the UK.