The financing is part of the ‘Horizon Africa’ strategy of the Spanish Ministry of Economy, Trade and Industry.
The Spanish government has approved a repayable loan of up to €250 million to finance the design, construction, commissioning, operation, maintenance and transfer of a desalination plant in Morocco. This initiative concerns a company in which Acciona has a stake.
The loan comes from the Enterprise Internationalisation Fund, a programme of the Organisation for Economic Cooperation and Development (OECD). Its aim is to support projects of great interest for the internationalisation of the Spanish economy. The company receiving this financing is also associated with Green of Africa and Afriquia Gaz.
The aim of this operation is to promote the presence of Spanish companies in Africa and contribute to the development of the continent. It is part of the ‘Horizon Africa’ strategy of the Spanish Ministry of Economy, Trade and Industry.
Furthermore, the Spanish Council of Ministers has also approved a €30 million credit line for the Angolan Ministry of Finance. This concessional credit line will finance small private projects in Angola for the purchase of Spanish goods and services.
In addition, a third operation was approved for the construction of a shrimp processing plant in Ecuador, with financing of €16.4 million from the same fund (FIEM).
CaixaBank’s Moroccan branch played a key role in this process. CaixaBank has had a banking licence in Morocco since 2009, with offices in Casablanca, Tangier and Agadir.
It offers banking and foreign trade services to Spanish companies already established in the country or wishing to enter the Moroccan market. Around 60% of the 800 Spanish companies operating in Morocco are clients of this branch.
Last year, a consortium led by Acciona, which is active in construction, real estate, energy and logistics, won the tender to build and operate a desalination plant in Casablanca.
The consortium also includes Moroccan companies Green of Africa and Afriquia Gaz. Work on the desalination plant is due to start this year.
MN/te/lb/as/APA