The European Investment Bank (EIB) has lent Morocco’s National Electricity and Drinking Water Company (ONEE) €37.5 million to rehabilitate and improve water supply and distribution infrastructures in the country.
An agreement was signed Friday by the two sides. The EIB funding will help the North African Kingdom to cut greenhouse gas emissions by reducing water losses in its distribution systems and strengthen its resilience to the growing water shortage exacerbated by climate change.
The EIB support will also enable ONEE to modernize and optimize water production, pipeline and supply infrastructures which will improve the living conditions of the population, mainly in rural areas.
“We are proud to consolidate our 30-year partnership with ONEE, whose remit is key to meeting the environmental challenges facing Morocco in terms of the use of water resources”, said EIB representative in Morocco Anna Barone.
The new funding in the water sector will enhance Morocco’s environmental and economic resilience and territorial equity, she added.
The EIB has been a key partner for Morocco for 40 years. The EIB finances the development and implementation of important projects in vital sectors of the Moroccan economy such as business support, agriculture, water and sanitation, education, health, transport and even renewable energy.