Morocco obtains EUR 37.5 million EIB loan to improve water supply

The European Investment Bank (EIB) has lent 37.5 million euros to the National Electricity and Drinking Water Company (ONEE) of Morocco to rehabilitate and improve water supply and distribution infrastructure in the country.

An agreement was signed on Friday by both parties. EIB financing will help the Kingdom of North Africa reduce its greenhouse gas emissions by reducing water losses in its distribution networks and strengthen its resilience in the face of growing water scarcity exacerbated by climate change.

EIB support will also enable ONEE to modernize and optimize water production, pipeline and distribution infrastructure that will improve the living conditions of the population, mainly in rural areas.

“We are proud to consolidate our 30-year partnership with ONEE, whose mission is essential to meet the environmental challenges facing Morocco in terms of the use of water resources,” said the EIB representative at Morocco Anna Barone.

The new financing in the water sector will strengthen Morocco’s environmental and economic resilience and territorial equity, she added.

The EIB has been a key partner of Morocco for 40 years. The EIB finances the development and implementation of important projects in vital sectors of the Moroccan economy such as business support, agriculture, water and sanitation, education, health, transport or renewable energies.



Source link

About Mitchel McMillan

Check Also

South African rand strengthens ahead of interest rate decision

JOHANNESBURG, September 23 (Reuters) – The South African rand strengthened on Thursday, as traders awaited …