Morocco receives 500 million euros in financing from the European Investment Bank to recover from the earthquake

Today, Thursday, in Rabat, the Ministry of Economy and Finance and the European Investment Bank signed an agreement to finance the integrated program for the reconstruction and modernization of the city of Al Haouz, with a total value of 500 million euros. .

The agreement was signed by Fawzi Lakjaa, Minister Delegate to the Minister of Economy and Finance in charge of the Budget, and Ioannis Tsakiris, Vice-President of the European Investment Bank, in the presence of Khaled Ait Taleb, Minister of Health, Social Protection, and Chakib. Benmoussa, Minister of National Education.

This financing agreement represents the first installment of a comprehensive financing package worth €1 billion, aimed at supporting reconstruction and modernization efforts in areas affected by the Al Haouz earthquake.

In his speech on this occasion, Lakjaa stressed that this financial partnership falls within the framework of efforts aimed at mobilizing the necessary resources to rehabilitate basic infrastructure and basic services in the areas affected by the earthquake. He added that the program will be implemented in two phases over a period of five years.

The first phase will focus on rebuilding basic infrastructure and rebuilding and rehabilitating main roads, while the second phase will be devoted to supporting the Moroccan government in its comprehensive development efforts, with the aim of creating an integrated and balanced model for territorial, social and economic development. For the region.

For his part, Tsakiris, who is on an official visit to Morocco as part of the European Investment Bank’s strengthening of its partnership with the Kingdom, said that this financing “will not only help restore vital services in the most affected areas, but also rebuild a modern, flexible and environmentally friendly infrastructure.”

He continued: “Our goal is to enable residents of affected areas to restore decent living conditions, with modern schools, roads and hospitals that meet the highest international standards,” noting that this project is in line with the climate priorities of the European Investment Bank. and sustainable development goals.

Benmoussa pointed out that this program aims to improve the living conditions of the affected population by restoring public services and stimulating local economic recovery, as well as rebuilding and modernizing vital infrastructure such as schools, hospitals and roads damaged by the earthquake.

It also aims to enhance the resilience of affected areas through sustainable infrastructure resistant to the effects of climate change. This is in line with the priorities of the green partnership between Morocco and the European Union (EU).

This project will contribute to rebuilding more resilient and efficient infrastructure and achieving the Millennium Development Goals, in particular quality education (MDG 4), good health and well-being (MDG 3), and climate action (MDG 13). for the millennium).

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