Assahafa.com
European Investment Bank (EIB) Vice-President Ioannis Tsakiris on Friday praised the “remarkable” progress achieved under Morocco’s program for the reconstruction and development of areas affected by the Al Haouz earthquake.
Speaking at a ceremony marking the signing of the second €500 million phase of the “Morocco Post-Earthquake Reconstruction” program, Tsakiris commended Moroccan authorities and all stakeholders involved for the swift response and the scale of the reconstruction efforts undertaken following the September 2023 earthquake.
“During my visit to the High Atlas region, I witnessed significant progress on the ground, including the reconstruction of schools, rehabilitation of road infrastructure, and the active involvement of local communities in the rebuilding process,” he added.
The EIB official noted that discussions with local stakeholders highlighted their sustained commitment to advancing reconstruction efforts, adding that the tangible progress achieved gives particular significance to the commemoration ceremony.
Tsakiris also recalled that the EIB mobilized emergency financing in the immediate aftermath of the earthquake to address urgent needs, stressing that the institution is now fully engaged in supporting the next phase of the large-scale reconstruction program led by the High Atlas Development Agency and the relevant Moroccan authorities.
The ceremony, chaired by Minister Delegate in charge of the Budget Fouzi Lekjaa, Tsakiris and EU Ambassador to Morocco Dimiter Tzantchev, marked the public formalization of the funding agreement signed on December 1, 2025.
The second phase is part of a €1 billion EIB financing package supporting the reconstruction of regions affected by the September 8, 2023 earthquake. The funding is provided under the European Union’s EFSD+ program and benefits from an EU guarantee, with implementation extending through 2030.
On Thursday, Tsakiris visited several earthquake-affected areas in Al Haouz province, where he toured reconstructed schools, rehabilitated health facilities and major road infrastructure projects, allowing him to assess progress firsthand and meet local actors involved in the reconstruction process.
Source: map
