EIB Lends 500 Million Euros to Morocco for Quake Recovery
The European Investment Bank has provided an additional 500 million euros to support infrastructure upgrades in regions affected by the 2023 earthquake. This funding brings the total EIB recovery support to 1 billion euros for roads, schools, and healthcare facilities.
The European Investment Bank loaned 500 million euros ($578 million) to Morocco on June 5 to fund infrastructure repairs. This credit brings total EIB financing for recovery from the September 8, 2023, earthquake to 1 billion euros. The financing supports the restoration of essential transport, education, and healthcare networks damaged by the disaster.
The 6.8-magnitude earthquake killed more than 2,900 people and destroyed mountain villages south of Marrakech. EIB officials said in a statement that the new funds will upgrade roads and schools.
