Signature with the European Investment Bank (EIB) of a financing agreement for the first tranche of the “Morocco Post-Earthquake Reconstruction” Program.
10/10/2024
Mr. Fouzi LEKJAA, Minister Delegate in charge of the Budget, and Mr. Ioannis Tsakiris, Vice-President of the EIB, signed an agreement for the financing of the integrated post-earthquake reconstruction and upgrading program, for an amount of 500 million euros. The signing of this agreement was attended by Mr. Chakib Benmoussa, Minister of National Education, Preschool and Sports, and Mr. Khalid Ait Taleb, Minister of Health and Social Protection.
This is the first instalment of an overall funding package worth one billion euros, designed to support reconstruction and upgrading efforts in the regions affected by the earthquake of September 8, 2023.
This agreement is part of efforts to mobilize the resources needed to rehabilitate essential infrastructure and basic services in these regions.
The program covered by this funding aims to:
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Improve living conditions for affected populations by restoring public services and stimulating local economic recovery.
• Rebuild and modernize vital infrastructure such as schools, hospitals and roads damaged by the earthquake, by improving seismic standards to ensure greater resilience to disasters.
- Strengthen the resilience of disaster-stricken areas, through sustainable infrastructure resistant to the effects of climate change, in line with the priorities of the European Union-Morocco Green Partnership.
It will be implemented in two phases over a 5-year period:
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Phase 1: This phase is dedicated to rebuilding basic infrastructure such as schools and health centers, as well as rehabilitating main roads to restore access to essential services.
- Phase 2: This phase would be devoted to supporting the Moroccan government in its global upgrading actions, with a view to establishing an integrated and balanced territorial and socio-economic development model for the region.
At the end of the signing ceremony, Mr Fouzi LEKJAA and Mr Ioannis Tsakiris praised the fruitful cooperation and exemplary partnership between the Kingdom of Morocco and the EIB.
Finally, the two senior executives expressed their willingness to engage in joint reflection to strengthen access to more financial resources.
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