EIB releases MAD 5.4 billion for Al Haouz earthquake reconstruction

The European Investment Bank (EIB) has activated a second €500 million tranche (around MAD 5.4 billion) for the reconstruction of areas affected by the September 2023 Al Haouz earthquake, according to a press release issued on Friday.

The new funding brings the EIB’s total commitment to €1 billion (approximately MAD 10.8 billion) and will support the rebuilding of essential infrastructure, including roads, schools and healthcare facilities, in the hardest-hit regions. The projects will be carried out in partnership with the High Atlas Development Agency and will comply with earthquake-resistance and energy-efficiency standards.

Representatives of Morocco, the EIB and the European Union met on June 5 at the Ministry of Economy and Finance in Rabat to launch the large-scale implementation phase of the program. The financing is backed by the European Union and supports the reconstruction strategy led by Moroccan authorities.

The meeting was attended by EIB Vice-President Ioannis Tsakiris, Delegate Minister for the Budget Fouzi Lekjaa, High Atlas Development Agency Director General Said Laith, and EU Ambassador to Morocco Dimiter Tzantchev.

A day earlier, Tsakiris visited reconstruction projects in Al Haouz province, including schools, health facilities and road infrastructure, to assess progress on the ground.

According to the press release, the EIB structured its support in three phases. Emergency financing was first mobilized in the weeks following the earthquake to fund debris removal, equipment and temporary housing. Since December 2023, the bank has supported the transition toward long-term reconstruction. The latest tranche marks the start of the full-scale implementation phase.

The financing package also includes technical assistance grants aimed at strengthening institutional capacities and ensuring the quality of rebuilt infrastructure. The program further includes measures to promote gender equality and social inclusion through dedicated action plans in education, healthcare and infrastructure.