EU targets 8.4 bln euros in Morocco investments over next 7 years

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RABAT, (Reuters) – The EU has revised upwards its investments in Morocco over the next seven years to 8.4 billion euros ($9.2 billion) to support job creation, sustainable agriculture and renewable energy, the European Commission’s enlargement chief said this week.

This investment pledge, which also aims to support the digital transition and small and medium sized businesses, marks a sharp increase from 1.6 billion euros announced by the European Commission early last month.

It is part of a plan, dubbed Global Gateway, that aims to increase connectivity between the EU and its partners.

International financial partners, Morocco’s private sector and Israel would contribute to this investment effort, commissioner, Oliver Varhelyi, told reporters after talks with Moroccan foreign minister Nasser Bourita in Rabat.

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