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The European Investment Bank (EIB) loaned an additional 500 million euros ($578 million) to Morocco on Friday to upgrade infrastructure in areas hit by a devastating earthquake three years ago.
The lending arm of the European Union announced in a statement that this latest injection brings its total financing for Morocco’s earthquake recovery efforts to 1 billion euros.
The powerful 6.8-magnitude earthquake struck on September 8, 2023, killing more than 2,900 people and marking Morocco’s deadliest seismic event since 1960.
The disaster damaged vital infrastructure and destroyed numerous mountain villages south of Marrakech.
Morocco will use the newly secured funding to rebuild and support essential public infrastructure, including roads, schools, and healthcare facilities.
