New Financial Agreement to Strengthen Moroccan-Spanish Economic Cooperation
Sabadell Morocco Bank and the Spanish Official Credit Institute (ICO) are preparing to sign an agreement to renew the “ICO International” financing line on June 12 in Casablanca. This event will be attended by various economic stakeholders and representatives from institutions in both Morocco and Spain, as well as companies engaged in bilateral economic relations between the two nations.
The agreement aims to enhance financial cooperation between Morocco and Spain by supporting Spanish companies operating within the Kingdom, as well as Moroccan or multinational companies with economic ties to Spain. The financing line seeks to fund diverse projects and activities in Morocco, contributing to the development of economic partnerships and bolstering cross-border investment dynamics.
Approximately 60 financial and business figures are expected to participate in this event, which will be inaugurated by the Spanish Ambassador to Morocco, Enrique Ojeda Villa, alongside Paloma Sánchez Sanjuán, Director of Institutional Banking for Africa and the Middle East at Banco Sabadell, and Fernando Salazar Palma, General Director of International Institutional Finance at ICO.
Following the signing ceremony, a roundtable discussion will be held under the theme: “Business Climate and Regulatory Reforms: Has Morocco Become a More Attractive Destination for Foreign Investment?” It will be moderated by Javier Sanz Muñoz, Economic and Commercial Counsellor at the Spanish Embassy in Casablanca, featuring various notable participants, including Elena Aranda García, Director of Financial Intermediation at ICO, Mohamed Saban, Director of Axona Morocco, Abraham García Prieto, CEO of Atlas Noor Hydrocarbons – Moiv, and Abdelghani Albahyi, General Director of Banco Sabadell Morocco.
This agreement reflects the commitment of the two financial institutions, Banco Sabadell Morocco and ICO, to support economic development in Morocco by facilitating foreign investment flows and enhancing bilateral partnerships, as part of a joint strategic approach to strengthen economic relations on both sides of the Mediterranean Sea.
