On 10 October 2024, the European Investment Bank (EIB) announced the signing of an agreement with the Moroccan Ministry of Economy and Finance, in the presence of representatives of the Ministry of National Education, Pre-School and Sport, the Infrastructure and Water Ministry, and the Health Ministry, for an amount of €500 million (around MAD 5.4 billion). This is the first tranche of a total loan amount of €1 billion to help rebuild public infrastructure in the regions affected by the earthquake of 8 September 2023.

This commitment reflects the EIB’s firm support for the Kingdom of Morocco in its rehabilitation of vital infrastructure and regeneration of disaster-stricken areas.

This support forms part of the Kingdom of Morocco’s overall reconstruction programme, which focuses on three priorities: rehabilitation of schools, hospitals and road networks in the worst affected areas; improvement of seismic standards to ensure greater resilience to disasters; and integration of sustainable energy solutions to enhance climate change adaptation and energy efficiency, in line with the priorities of the EU-Morocco Green Partnership.

This support also includes a technical assistance grant dedicated to the project’s implementation in order to reinforce the structure of the programme and ensure that the reconstruction is sustainable.

The project is in line with the climate priorities of the EIB as a climate bank and with the Sustainable Development Goals (SDGs). It will contribute to the reconstruction of more resilient and efficient infrastructure and the achievement of the SDGs, including quality education (SDG 4), good health and well-being (SDG 3), and climate action (SDG 13).

This funding comes under the high-quality partnership between the EIB and the Kingdom of Morocco. The EIB thus reaffirms its commitment to supporting Morocco in its green transition, promoting inclusive socioeconomic development and strengthening resilience to future challenges, including natural disasters. This agreement illustrates the mutual trust between Morocco and the EIB, and their joint determination to achieve long-term sustainable development goals.