EIB to lend Morocco 223m euros for energy, water projects

30/11/2006

[File] EIB

The European Investment Bank (EIB) will seal three agreements next month with Morocco, under which it is expected to secure 223m euro in financing for energy and water supply projects. The first 170m euro loan would go to the Moroccan National Electricity Company to implement the national programme for rural electrification. The second accord will arrange the financing for several projects on water reclamation in 17 urban centres in the north-central region on the Sebou. The third project is a private one, under which EIB will secure 10n euro for the capital of the new 93m-euro Moroccan Infrastructure Fund, founded by the Attijariwafa Bank and EMP Africa.

In other news, the Moroccan government held a meeting Wednesday (November 29th) to discuss the water supply problems. At the meeting, Prime Minister Driss Jettou and Minister of Territory Development, Water and Environment, Mohamed El Yazghi warned that Morocco is not immune against water shortage. Officials agreed on the need for revision of the national water policy to guarantee the continuity and the permanence of water supply, especially to the rural areas. Finance Minister, Fathallah Oualalou said that public and pubic-private investments in the sector total $2.1 billion and can help provide 73% of rural areas with the drinking water by year's-end. (ANSA, MAP)