Morocco gets €100 million loan for new tech parks

The European Investment Bank signed an agreement on October 4 to provide a €100 million loan to launch seven new technology parks in Morocco. The recipient is MEDZ, a subsidiary of CDG Développement based in Rabat, Morocco.

The new tech parks planned are:

• Atlantic Free Zone in Kénitra.
• Haliopolis Park in Agadir.
• MidParc in Nouasser.
• Oujda Technopole.
• Technopolis Park in Rabat-Salé.
• Agropolis in Meknès.
• Agropole in Berkane.

There was no mention in the announcement of when the parts are expected to open.

At the signing ceremony, Mr Anass Houir Alami , Chairman of MEDZ’s supervisory board said that:

“MEDZ, which is celebrating its 10th anniversary this year, has seen its business steadily grow. It is contributing to a number of large-scale infrastructure projects furthering Morocco’s economic and social development. (…) MEDZ is now intent on turning its projects into centres of excellence and competitiveness, creating true drivers of regional development. (…) This loan is providing timely support for MEDZ’s ambitious programme of investing nearly 3 billion dirham in these seven technology parks. (…) The signing of this agreement is a pledge of confidence in the ability of MEDZ and the CDG group in general to carry out flagship infrastructure projects capable of providing sustained support for sectoral strategies and taking the economy forward (…).”

The press release for the announcement can be found here: http://www.eib.europa.eu/projects/press/2012/2012-134-maroc-100-millions-deuros-en-faveur-des-technopoles.htm