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World Bank building

MIGA’s goal is to promote foreign direct investment into developing countries to support economic growth and more.

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Hands husking peas into a basket full of peas

Learn about the progress MIGA is making in its mission to support economic growth, reduce poverty and improve people’s lives.

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Young woman bending down to tending to her outside chores

Explore different types of political risk insurance guarantees provided to investors and lenders.

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Hyundai building

Explore global projects that support economic growth, reduce poverty and improves people’s lives.

Brief

Building Futures Together: UM6P Morocco's Expansion

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UM 6

Morocco faces significant hurdles in developing its human capital and educational infrastructure, as reflected in its low human development index. The government of Morocco has been working to enhance its educational infrastructure and research capabilities to foster innovation and sustainable development.

At the heart of addressing this challenge is the OCP Group, Morocco's largest state-owned enterprise and a global leader in phosphate-based fertilizers.Recognizing its pivotal role in the country's development, OCP Group established the OCP Foundation, which in turn created the university as a cornerstone of its educational and innovation strategy. The relationship between OCP Group, the government of Morocco, and UM6P formed a strategic alliance aimed at elevating Morocco's research capabilities, fostering sustainability, and driving innovation. However, the ambitious expansion of UM6P's Rabat campus,crucial to these goals, faced a significant financing challenge. Despite OCP Group's strong economic position and the project's alignment with national development objectives, the scale of investment required for this state- of-the-art educational facility required substantial long- term financing at more favorable terms than OCP was able to attract on its own, creating a barrier to the project.
 

PROJECT HIGHLIGHTS
  • MIGA issued a €243.2 million guarantee to banks that were lending to OCP Group to support the third phase expansion of the University Mohammed VI Polytechnic (UM6P) Rabat campus.

  • The partnership with OCP Group aims to increase access to high-quality education, enhance research capabilities, and promote sustainability in Morocco.

  • MIGA's guarantee enabled OCP Group to secure long-term financing amid challenging global conditions.

  • The expansion includes state-of-the-art academic, sports, and accommodation facilities, as well as a 1,500-seat conference center.