France has expressed readiness to contribute to funding a 3-gigawatt power cable connecting Casablanca in Morocco to the town of Dakhla in Western Sahara. Morocco desires French recognition of its sovereignty over Western Sahara, mirroring the stance of the U.S. and several Arab and African nations. The French development agency AFD plans to provide a 350 million euro ($376 million) loan to support Morocco's phosphates and fertilizers giant OCP in its decarbonization endeavors. French Finance Minister revealed this initiative, highlighting the ongoing diplomatic rapport between the two nations.
France also aims to collaborate with Morocco on renewable energy projects, including solar, wind, green hydrogen, and nuclear power. With an investment stock totaling $8.75 billion up to 2022, France stands as Morocco's largest foreign investor. Notably, Morocco hosts industrial facilities of prominent French companies such as Renault and Safran, emphasizing the strong economic ties between the two countries.