Morocco Earthquake: New Agency to Oversee $11.7 Billion Rebuilding Program

Morocco has created a new agency to ensure the successful implementation of the $11.7 billion program for the rehabilitation and reconstruction of areas affected by the September 8 earthquake, said Fouzi Lakjaa, Delegate Minister for Budget.

Rabat – Morocco has created a new agency to ensure the successful implementation of the $11.7 billion program for the rehabilitation and reconstruction of areas affected by the September 8 earthquake, said Fouzi Lakjaa, Delegate Minister for Budget.

During a joint meeting of the financial committees of the House of Representatives and the Council of Advisors on Friday, Lakjaa explained that the agency will have a specific time frame linked to the program.

Its responsibilities will include overseeing the distribution of financial aid to the affected individuals, executing reconstruction and rehabilitation projects, implementing socio-economic development initiatives, and coordinating work among various sectors and stakeholders.

According to the roadmap for the program announced on Wednesday, the budget for the program is $11.7 billion and will cover five years, benefiting approximately 4.2 million people.

Starting this month, families affected by the earthquake will start receiving financial aid. Each family will receive a monthly payment of MAD 2,500 ($243) for a period of one year.

In addition, families whose homes were destroyed in the earthquake will receive MAD 140,000 ($13,600) in compensation, while families whose homes were only partially damaged will receive MAD 80,000 ($7,780) in compensation.

Lakjaa further emphasized that a comprehensive assessment of needs, analysis of local capabilities, population counts of the affected areas, and evaluations of damaged structures are already underway.

The program is founded on two primary pillars, he pointed out. The first includes the reconstruction and rehabilitation of infrastructure damaged by the earthquake, while he second part involves the development of an integrated development plan for the Greater Atlas regions through structured projects.

The funding for this ambitious program will be sourced from the special solidarity fund designated for managing the consequences of the earthquake, the general state budget, contributions from local authorities, the Hassan II Fund, and international support and collaboration.