Econostrum | Economic News in the Mediterranean



EIB provides €100m to help Morocco fight against Covid-19

The EIB will allocate a total of €200 million to Morocco to fight Covid-19 (photo: EIB)
The EIB will allocate a total of €200 million to Morocco to fight Covid-19 (photo: EIB)
MOROCCO / EU. The European Investment Bank (EIB) decided on Monday, August 31, 2020, to urgently release the sum of € 100 million "to support Morocco's efforts against the Covid-19 virus crisis". "It is crucial to act quickly in order to limit the impact of such a pandemic on the population", emphasizes Emma Navarro, Vice-President of the EIB.

This first EIB financing in the EU's Mediterranean neighbourhood to combat Covid-19 is only the first tranche of a total of €200 million dedicated to Morocco's national plan to respond to this pandemic. It is based on the European Union's Team Europe program aimed at supporting partner countries, particularly countries outside Europe, in the fight against the coronavirus pandemic and helping them to cope with its consequences.

According to Mohamed Benchaaboun, Moroccan Minister of Economy, Finance and Administrative Reform, this contribution will help meet urgent needs for medical equipment and materials. Part of the 100 M€ granted will also be used to reinforce health and hospital capacities to limit the impact of Covid-19.

Frédéric Dubessy

Tuesday, September 1st 2020

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