EIB pledges €1 billion for Morocco’s earthquake recovery efforts
Reading time 1 min Christian Fernsby ▼ | October 13, 2023The 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.
World EIB
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.
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. ■
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