EU bank’s €180m loan for Morocco’s energy infrastructure

An EU bank is set to provide a loan worth €180 million (£146.2m) to help Morocco (pictured) extend its electricity infrastructure. The cash from the European Investment Bank (EIB) will […]

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By Priyanka Shrestha

An EU bank is set to provide a loan worth €180 million (£146.2m) to help Morocco (pictured) extend its electricity infrastructure.

The cash from the European Investment Bank (EIB) will fund the third phase of a project, which includes upgrading around 1,300 km of overhead power lines. The project aims to meet the fast-growing demand for electricity in Morocco and improve system reliability.

Philippe de Fontaine Vive, EIB’s Vice-President: “The aim of these loans is to develop modern, sustainable, profitable infrastructure in key growth sectors… What better way to illustrate a deliberately dynamic and ambitious partnership for the benefit of the population of Morocco, in particular its young people.”

The EIB has provided €840 million (£682.4m) in Morocco for energy development and climate action since 2002.