Morocco and the German Development Bank (KfW) signed, on Wednesday in Rabat, a 100 million-euro loan contract, to support Al Haouz post-earthquake reconstruction and upgrading program.
Inked by Morocco’s Minister Delegate to the Minister of Economy and Finance, in charge of Budget, Fouzi Lekjaa, and Sandra Rohleder, Head of Division at KfW, the loan agreement aims to support Morocco’s efforts in managing the earthquake consequences and mitigating its socio-economic impact on the local population.
This contract aims to “finance part of the direct aid allocated to households,” and constitutes “a further concrete expression” of the exemplary and lasting partnership between Morocco and Germany, Lekjaa said.
The Minister also commended the excellent cooperation between the two countries, particularly with regard to the major reform programs undertaken by the Kingdom, including the large-scale investment projects.
For his part, Dölger said this contract will make a significant contribution to the reconstruction of the quake-stricken region, in a spirit of solidarity with Morocco and its people.
“I believe that this contribution from Germany will really help to make a difference for those affected by the earthquake”, he underlined, adding that it represents an excellent example of the quality of friendly relations between the two countries.