RABAT, Feb. 20 (Xinhua) -- The European Bank for Reconstruction and Development (EBRD) on Tuesday vowed to continue its support to Morocco in improving its business environment.
During a meeting, Moroccan Prime Minister Saad Eddine El Othmani and EBRD President Suma Chakrabarti expressed their satisfaction with their partnership, as demonstrated by EBRD's investments in the north African kingdom, while agreeing to further enhance the bilateral cooperation.
Over the past five years, the EBRD investments in Morocco have reached nearly 1.9 billion U.S. dollars, according to a statement issued by the Prime Minister's office.
Chakrabarti reiterated the bank's readiness to continue supporting the efforts by the Moroccan government to improve the business environment, especially to support small and medium-sized enterprises.
Chakrabarti also said that the EBRD is ready to support Morocco's ambitious plans in the area of renewable energy and green economy.
For his part, El Othmani reviewed a series of economic and social reforms that the government is implementing.
He focused mainly on the country's efforts to achieve economic balance and increase the contribution of the industrial sector in the GDP to 23 percent by 2020.
Morocco is a founding member of the EBRD and became a country of operations in 2012. The bank has supported close to 1000 Moroccan small and medium-sized enterprises with business advisory services.