(Ecofin Agency) – Friday September 8, 2023, Morocco recorded an earthquake which left around 3,000 dead, according to official reports. Since then, the authorities have been trying to rebuild the disaster areas with the support of their international partners.
Morocco and the European Union (EU) signed a financing agreement of €190 million ($199.6 million) in favor of the integrated program for the reconstruction and upgrading of areas affected by the Al Haouz earthquake. This is indicated by a communiqué from the Moroccan Ministry of Economy and Finance, published on Monday November 25, 2024.
This program aims to help victims obtain rehabilitated or reconstructed housing, to contribute to the restart of public health and education services in operational buildings as well as to revive economic activity and strengthen territorial cohesion.
« The signing of this agreement is part of efforts related to the mobilization of the necessary resources for the rehabilitation of essential infrastructure and basic services in the region. », Underlines the press release.
As a reminder, on Friday September 8, 2023, Morocco was hit by an earthquake which caused thousands of victims and partially or completely destroyed approximately 60 000 dwellings. Since then, the authorities have been working to repair the damage, particularly with the help of financial partners.
To this end, the European Investment Bank (EIB) has set up a global loan of 1 billion euros to help rebuild public infrastructure in affected regions. An agreement relating to the signing of a first tranche of 500 million euros was announced last October. At the same time, a first payment was made in December 2023 amounting to 35.6 million euros.
Note that to deal with the consequences of the earthquake, the Moroccan government has put in place measures through a budget of 120 billion dirhams (12 billion dollars) planned to be allocated over five years. To date, more than 63,800 households have already received emergency aid, reports the government.
Lydie Mobio (intern)
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