The €100m investment fund aims to capitalise on the growing dynamism of the Maghreb economies.
Paris is stepping up its efforts to re-establish its economic and political presence in Africa, particularly in the Maghreb, where it is setting up a €100 million fund through the French Investment Bank.
The programme, which covers the period 2024-2027, targets several strategic sectors such as industry, energy, agriculture and pharmaceuticals.
The fund aims to support French companies wishing to strengthen their presence in the region, particularly in Morocco, Algeria and Tunisia.
It offers French companies financing, guarantees and assistance in setting up projects with local partners, with the aim of stimulating strategic partnerships in the region.
Historically, France has been the Maghreb’s main trading partner, but relations have been strained in recent years by ongoing political tensions and imbalances in trade agreements.
Despite this, trade has shown relative resilience in 2023, trade between France and Algeria reached €11.8 billion, with growth of 5.3 per cent on the previous year, boosted by hydrocarbon exports.
For Morocco, trade totaled 14.1 billion euros, an increase of 5 per cent, underlining a trade relationship that is robust but faces similar challenges. Trade with Tunisia totaled 7.4 billion dinars, split evenly between exports and imports.
The French fund aims to revive strategic partnerships and make up for losses in previous years. It underlines France’s ambition to capitalise on the growing dynamism of the Maghreb economies, while adopting a modern and equitable approach far removed from colonial connotations.
This investment fund marks a new stage in Franco-Maghrebian relations, with the aim of revitalising and diversifying the economic partnership
in the coming years and restoring positive momentum in a strategic region of Africa for France.
MN/te/lb/GIK/APA