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The government activates European loan guarantees of €240 million to support water and energy sovereignty.
The provisions for funding strategic projects in the water and energy sectors in Morocco have entered the implementation phase following the government’s approval of two new decrees guaranteeing loans from the European Investment Bank to the National Office for Electricity and Drinking Water. A total financial envelope of approximately €240 million has been allocated for this operation, aimed at strengthening basic infrastructure and meeting the increasing demand for vital resources.
Details in the official gazette reveal the issuance of Decrees No. 2.25.964 and No. 2.25.965, which embody Morocco’s commitment to guarantee loans signed with the European banking institution in November of last year. The majority of this funding, amounting to €170 million, is designated for the development of renewable energy transmission networks. This step aims to enhance the national grid’s capacity to absorb and distribute clean energy generated from solar and wind power stations, aligning with national ambitions for energy transition.
In this context, the remaining €70 million is allocated to finance the third phase of the drinking water production project, which is critically important given the current climatic challenges and recurring years of drought. This funding program seeks to improve the continuity of water supply and develop treatment and distribution facilities to ensure water security for citizens across various regions, alleviating the increasing pressure on traditional resources.
These decrees, signed by Minister of Economy and Finance Nadia Fettah on behalf of the Prime Minister, are based on the legal reference of the Finance Law for the year 1982, reflecting the executive body’s commitment to providing the necessary legal and financial coverage for major public institutions to execute their investment projects under preferential conditions, while maintaining a balance in public debt indicators.
This financial move reinforces the strategic partnership between the Kingdom of Morocco and the European Investment Bank, highlighting international financiers’ confidence in the Moroccan development model, particularly in sustainability-related sectors. With this support, Morocco continues to strengthen its water and energy security pillars, regarded as essential foundations to face climatic fluctuations and ensure sustainable economic growth in the coming years.
