Allen & Overy Casablanca has advised the Euro-Mediterranean University of Fes (UEMF) in relation to a EUR70m financing by the European Investment Bank (EIB). UEMF, whose honorary President is King Mohammed VI of Morocco, was founded in 2012 with the support of the Kingdom of Morocco and the Union for the Mediterranean and has been pursuing its development strategy since its creation.

The EIB financing, which was signed in Rabat on 7 July 2017, will be deployed to build and equip the future UEMF eco-campus, the total cost of which is estimated at EUR147m. The project has also received a EUR5m subsidy from the European Union and a EUR13m grant from the EU Neighbourhood Investment Facility.  EUR35m of private investment will also support this initiative.

UEMF attracts both Moroccan and international students and has created links with several universities in other countries so that its faculty now also includes international teaching staff. Its future eco-campus will be developed in partnership with higher education and research institutions within the Mediterranean region and should be completed by 2021 in order to host around 6000 students from a range of countries from both the Euro-Mediterranean region and sub-Saharan Africa.

The Allen & Overy Casablanca team was led by partner Yassir Ghorbal supported by senior associate Antoine Haddad.