Morocco ranks among the world’s leading recipients of private capital mobilized through public development interventions. According to the OECD’s 2026 report, the Kingdom attracted an average of $1.5 billion annually between 2021 and 2024, totaling nearly $6 billion over the four-year period.
In the OECD’s visual ranking, Morocco appears in 11th place, tied with Serbia at $1.5 billion per year, placing it among the world’s largest recipients of private capital mobilized through public development finance.
Within Africa, Morocco ranks third behind South Africa, which attracted an annual average of $1.7 billion, and Egypt with $1.6 billion. Morocco ranks ahead of Ethiopia ($1.2 billion), Kenya ($800 million) and Nigeria ($700 million).
Public instruments driving private investment
The amounts reported by the OECD represent private resources mobilized through various public development finance instruments. These include guarantees, direct investments, syndicated loans, equity investments in collective investment vehicles and credit lines.
Read also : Morocco’s agri-food exports surpassed MAD 86 billion in 2025
These instruments help reduce investment risks and encourage private-sector participation in financing economic and infrastructure projects in recipient countries.
Globally, Brazil tops the ranking, attracting $6.5 billion annually between 2021 and 2024. It is followed by India ($5.7 billion), Türkiye ($3.2 billion), Mexico ($2.1 billion) and Colombia ($2 billion).
Ecuador and South Africa each attracted $1.7 billion per year, while Egypt and Peru each recorded $1.6 billion. Serbia and Morocco complete the group of countries that mobilized $1.5 billion annually.
Africa accounts for 30% of mobilized capital
The OECD report also highlights Africa’s leading role in this trend. Between 2021 and 2024, the continent received an average of $19.7 billion per year, representing 30% of all private capital mobilized through public development interventions.
Read also : Morocco’s rail expansion draws French and Portuguese firms into the local maintenance market
Latin America and the Caribbean ranked second with $18 billion annually, accounting for 28% of total mobilized capital, followed by Asia with $16.5 billion, or 25%. Europe accounted for 11% of the total, while Oceania represented just 0.1%.
In Africa, guarantees were the main instrument for mobilizing private capital, accounting for 31% of inflows. They were followed by direct investments in companies or specialized investment vehicles (24%), syndicated loans (14%), equity investments in collective investment vehicles (14%), credit lines (12%) and simple co-financing arrangements (5%).
More than $600 billion mobilized since 2012
Over the 2012–2024 period, public development interventions helped mobilize more than $600 billion in private resources.
At constant 2023 prices, annual mobilized capital increased from $17 billion in 2012 to $75 billion in 2024. After reaching $66 billion in 2022 and $70 billion in 2023, mobilized private capital set another record in 2024.
Read also : Morocco’s debt market grows to MAD 1.1 trillion as Treasury securities dominate
Between 2021 and 2024, guarantees and direct investments each accounted for 25% of average annual mobilized capital. Syndicated loans represented 20%, equity investments in collective investment vehicles 15%, credit lines 9%, and simple co-financing arrangements 7%.
Infrastructure attracts nearly 70% of funding
Infrastructure and economic services accounted for nearly 70% of private capital mobilized between 2021 and 2024.
Banking services and business activities received the largest share of financing at 41.8%, followed by industry, mining and construction (14.1%), energy (13.7%), transport and storage (9.4%), and communications (5.3%).
Agriculture, health, water and sanitation, environmental projects and education also benefited from these investments, though on a smaller scale.
Climate projects attract $26.2 billion annually
The OECD also highlights the growing importance of climate-related financing. These projects attracted an average of $26.2 billion per year between 2021 and 2024, representing roughly 40% of all private capital mobilized.
Nearly 70% of this financing supported emissions reduction projects, 22% went to projects combining mitigation and adaptation, while 8% was dedicated exclusively to climate adaptation.
Latin America and the Caribbean was the largest recipient of climate-related financing, attracting $9.2 billion annually, followed by Asia with $6.4 billion and Africa with $5.9 billion.
Multilateral development banks play a leading role
Multilateral development banks accounted for 71% of all private capital mobilized between 2021 and 2024. Other multilateral institutions contributed 5%, while bilateral organizations accounted for the remaining 24%.
The International Finance Corporation (IFC) ranked first among multilateral institutions, mobilizing $20.62 billion annually, or 41% of the total attributed to this category.
Read also : Morocco’s automotive exports reach MAD 93.65 Billion
It was followed by the institutions of the European Union ($7.20 billion), the Multilateral Investment Guarantee Agency (MIGA) ($5.64 billion), BID Invest ($4.14 billion), the European Bank for Reconstruction and Development (EBRD) ($2.98 billion), and the African Development Bank (AfDB) ($1.97 billion).
Among bilateral contributors, the United States ranked first with $6.52 billion per year, ahead of the United Kingdom ($2.13 billion), France ($2.06 billion), Germany ($1.33 billion), and Japan ($1.02 billion).
Through these findings, the OECD underscores the growing role of public development finance mechanisms in mobilizing private investment, particularly to support infrastructure, energy, climate-related initiatives and other strategic sectors of the economy.
