Home Highlights on Morocco Morocco Signs a Loan Agreement with European Investment Bank

Morocco Signs a Loan Agreement with European Investment Bank

Idriss El Azami, Minister Delegate for the Budget, as well as Charafat Afilal, Minister Delegate to the Minister of Energy, Mines, Water, and Environment In Charge of Water
Idriss El Azami, Minister Delegate for the Budget, as well as Charafat Afilal, Minister Delegate to the Minister of Energy, Mines, Water, and Environment In Charge of Water

Rabat – European Investment Bank (EBI) signed on Monday a loan agreement of MAD 800 million (75 million EUR) with the Moroccan Electricity and Drinking Water Facility (ONEE) to finance its program for improving and supplying drinking water.

The agreement was signed by ONEE head Ali Fassi Fihri and Román Escolano, Vice President of EBI, in a ceremony that was chaired by Idriss El Azami, Minister Delegate for the Budget, as well as Charafat Afilal, Minister Delegate to the Minister of Energy, Mines, Water, and Environment in Charge of Water.

Morocco Signs a Loan Agreement with European Investment Bank

Escolano described the “solid partnership” between Morocco and EBI, which began over 35 years ago. He added that that it parallels priorities of the European Union and the National Water Strategy 2012-2016, which aims to update Morocco’s infrastructure and improve Moroccans’ equitable access to basic services.

The project aims to upgrade and rehabilitate the sanitation system, supply drinking water to rural areas, reinforcement of the production and operations of water in the kingdom, and renew water facilities.

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