World Bank/ IMF Annual Meetings: EIB pledges €1 billion for Morocco’s earthquake recovery efforts

• Announcement at World Bank Group-IMF Annual Meetings:  €1 billion lending over the next three years to Morocco's post-earthquake reconstruction program
• Focus on rebuild and repair with emphasis on resilient and sustainable infrastructure, housing and climate action
• Announcement after meeting between EIB Vice-President Mourinho Felix and Morocco Vice-Minister Lekjaa

The European Investment Bank (EIB) has pledged €1 billion over the next three years to Morocco's €12 billion post-earthquake reconstruction programme running upto 2028. This financing is completely aligned with Morocco's ambitious national recovery programme according to the priorities of the national authorities.

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.

“As a long-standing partner of Morocco, we aim not just to rebuild what was lost, but also to contribute to laying the foundations for a brighter, stronger and more resilient future across all the regions in Morocco affected by the September earthquake.” said EIB Vice-President Ricardo Mourinho Félix, who is responsible for financing in Morocco. “Our role as the EU bank is not just about providing financing, it is also a strong  commitment to advancing development, and supporting resilience  and climate action hand-in-hand with our partners.”

More information in EIB Global in Morocco:

Since 1979, EIB operations in Morocco have improved people’s daily lives by providing access to clean water and energy, finance for small and medium-sized enterprises, sustainable mobility, health and education. The EIB is supporting the EU-Morocco Green Partnership, by which the European Union and the Kingdom of Morocco consolidated their cooperation on protecting the environment, supporting the green economy, conserving biodiversity including at sea, and fighting climate change. 

Morocco and the EIB

The EIB at the World Bank Group-IMF Annual Meetings 2023

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.