EIB Pledges €1 Billion for Morocco’s Earthquake Recovery Efforts
- Announcement at World Bank Group-IMF Annual Meetings: €1 billion lending over the next three years to Morocco’s post-earthquake reconstruction program
- Focus on rebuild and repair with emphasis on resilient and sustainable infrastructure, housing and climate action
- Announcement after meeting between EIB Vice-President Mourinho Felix and Morocco Vice-Minister Lekjaa
The European Investment Bank (EIB) has pledged €1 billion over the next three years to Morocco’s post-earthquake reconstruction programme which will mobilise €12 billion by 2028. This financing is completely aligned with Morocco’s ambitious national recovery programme according to the priorities of the national authorities.
The announcement was made by EIB’s Vice-President, M. Ricardo Mourinho Felix, after meeting with M. Fouzi Lekjaa, Morocco’s Vice-Minister overseeing the budget. On the margins of the World Bank Group-IMF Annual Meetings in Marrakesh. Also present were Lionel Rapaille, EIB’s Director of Operations for EU Neighbouring Countries, and Adrien de Bassompierre, the EIB representative in Morocco.
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The EIB’s contribution is underpinned by a vision of resilience and sustainability. Funds will be used to repair damage from the earthquake and rebuild better, with a focus on resilient and sustainable infrastructure, leveraging the Bank’s resources and expertise.
“As a long-standing partner of Morocco, we aim not just to rebuild what was lost, but also to contribute to laying the foundations for a brighter, stronger and more resilient future across all the regions in Morocco affected by the September earthquake.” said EIB Vice-President Ricardo Mourinho Félix, who is responsible for financing in Morocco. “Our role as the EU bank is not just about providing financing, it is also a strong commitment to advancing development, and supporting resilience and climate action hand-in-hand with our partners.”
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