Reconstruction of Al Haouz: Launch of the Second Phase of the Program with a Funding of 500 Million Euros
The event took place in the presence of Ioannis Tsakiris, Vice President of the European Investment Bank, and Dimitar Tzantchev, Ambassador of the European Union to Morocco. This ceremony coincided with a field visit to the Al Haouz province to monitor the progress of reconstruction projects.
One Billion Euros Mobilized for Reconstruction
This new funding package is part of a broader commitment of one billion euros awarded by the European Investment Bank to support the reconstruction efforts in areas affected by the earthquake on September 8, 2023.
The financing is backed by a guarantee from the European Union under the FEDD+ program and includes a monitoring framework that will continue until 2030 to ensure the full realization of the planned investments.
From Urgency to Accelerating Development
The first phase of the program, covering the period from 2023 to 2025, focuses on emergency interventions. This phase has enabled the reconstruction of essential infrastructure, including schools and health centers, as well as the rehabilitation of the road network and improving access to several affected localities.
The second phase, planned for the period between 2026 and 2030, aims to take a new step by accelerating development in the affected areas. This will involve modernizing road infrastructure, enhancing educational and healthcare services, and building the resilience of these regions to climate change.
Towards a New Model of Territorial Development
Beyond merely rebuilding infrastructure, this program aspires to establish a model of territorial development based on resilience, social cohesion, and inclusion.
The goal is to sustainably transform the disaster-stricken areas into spaces capable of generating new economic opportunities and better addressing future challenges.
A Strong Partnership Between Morocco, the EIB, and the European Union
The European Investment Bank has been supporting Morocco since 1979, with a cumulative financing volume nearing 11 billion euros. Since 2016, over 4.7 billion euros have been mobilized to support various key projects, including the Tangier Med Port, tramway networks, and the development of highway infrastructure.
At the conclusion of the ceremony, Moroccan and European officials praised the quality of this strategic cooperation, which is vital in supporting the reconstruction of affected areas while preparing conditions for sustainable and resilient development.
They also reaffirmed their commitment to further strengthening this partnership and exploring new financing opportunities for sustainable development projects in Morocco.
