The Ministry of Economy and Finance and the European Investment Bank (EIB) signed an agreement on Thursday in Rabat on the financing of the Integrated Post-Earthquake Reconstruction and Upgrading Program of Al Haouz, for a total amount of 500 million euros (M€). Initialed by the Minister Delegate to the Minister of Economy and Finance, responsible for the Budget, Fouzi Lekjaa, and the Vice-President of the EIB, Ioannis Tsakiris, in the presence of the Minister of Health and Social Protection, Khalid Ait Taleb, and the Minister of National Education, Preschool and Sports, Chakib Benmoussa, this financing agreement corresponds to the first tranche of global financing with an envelope of one billion euros, intended to support reconstruction and upgrading efforts in regions affected by the Al Haouz earthquake.
Speaking on this occasion, Mr. Lekjaa stressed that this financial partnership is part of efforts related to the mobilization of the necessary resources for the rehabilitation of essential infrastructure and basic services in the regions affected by the earthquake, specifying that it will be implemented in two phases over a period of five years. The first phase is dedicated to interventions relating to the reconstruction of basic infrastructure as well as the rehabilitation of main roads, while the second phase will be devoted to supporting the Moroccan government in its overall upgrading actions, with a view to establishing a integrated and balanced territorial and socio-economic development model for the region, he said. For his part, Mr. Tsakiris, on an official visit to Morocco as part of strengthening the EIB’s partnership with the Kingdom, indicated that this financing “will not only make it possible to restore vital services in the hardest hit regions, but also to rebuild modern, resistant and ecological infrastructure.”
“Our objective is that the inhabitants of the disaster regions can regain decent living conditions by benefiting in particular from schools, roads and modern hospitals meeting the best international standards,” he continued, noting that this project aligns with the EIB’s climate priorities and the Sustainable Development Goals (SDGs).
For his part, Mr. Benmoussa said that this program aims to improve the living conditions of affected populations 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.
This project will contribute to rebuilding more resilient and efficient infrastructure and achieving the SDGs, including quality education (SDG 4), good health and well-being (SDG 3), and climate action ( SDG 13).
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