- British Embassy in Rabat has announced the launch of Department for International Trade (DIT)’s the “UK Export Finance” (UKEF). UKEF is ready to support projects in the African markets, subject to sourcing some content from the UK.
British Embassy in Rabat has announced the launch of the Department for International Trade (DIT)’s “UK Export Finance” (UKEF). UKEF is ready to support projects in the African markets, subject to sourcing some content from the UK. Under the programme, UKEF will finance up to £4 billion (MAD 52 billion) to Moroccan buyers for projects in the region if a minimum 20% of the content is sourced from UK businesses. African companies that meet the criteria can obtain financing, loans, and insurance to realize their projects.
UKEF has appointed a new International Export Finance Executive (IEFE) in Casablanca. The launch of UKEF in Casablanca was hosted by the British Ambassador to Morocco Simon Martin. Several senior officials from UKEF and head of the business group Tim Reid, and DIT country Director and Consul General in Morocco Tom Hill also participated in the function.
Tim Reid explained that the program can benefit Morocco as well as UK exports and added that the program supports both government-sponsored and private-sector projects in Morocco.
British Ambassador Simon Martin described the UKEF as a facilitator for promoting the bilateral economic ties between the UK and Morocco, encouraging partnership between Moroccan and British businesses on important sectors in the market involving energy, education, renewable energy, and manufacturing.
Also read;
https://trendsnafrica.com/moroccos-economic-growth-dips/
https://trendsnafrica.com/egyptian-investors-keen-to-expand-to-morocco/
The British ambassador noted that there existed vast potential in renewable energy projects, a priority of Morocco, particularly in renewable energy infrastructure, lean water technologies, etc.
