Morocco to get 110-mln-USD loan from European Investment Bank

Morocco will receive a 100-million-euro loan from the European Investment Bank (EIB) to help implement its strategy for boosting water and forestry sector resilience. The loan agreement was signed by the Moroccan minister delegate in charge of the budget, and the director of Operations at the EIB in Rabat.

The funds will be used to modernize and enhance the competitiveness of the water and forestry sector in Morocco, with a focus on climate change adaptation and biodiversity promotion. The EIB announced on 11 October that it will grant Morocco 1 billion euros in loans over the next three years.