Morocco Boosts Water and Power Sectors with €240 Million International Investment

The European Investment Bank has sanctioned €240 million in funding for Morocco’s National Office of Electricity and Drinking Water (ONEE), signaling a significant move towards upgrading the nation’s essential infrastructure.

Out of this amount, €170 million will be allocated to strengthen the national electricity transmission grid, improving reliability, decreasing technical losses, and incorporating more renewable energy sources throughout Morocco.

The leftover €70 million will enhance water production capabilities through better facility efficiency and the advancement of ONEE’s digital transformation plan. This ensures enhancements in both the volume and quality of potable water distribution.

These loans, supported by the European Union’s Enhanced Finance Support Instrument (EFSD+), form part of ONEE’s comprehensive €21 billion investment strategy up until 2030. This initiative aims to expedite Morocco’s shift towards renewable energies and ensure the country’s water security.

As the nation works to satisfy increasing needs while tackling deficiencies in rural areas and confronting climate issues, these investments have the potential to significantly transform its sustainable development outlook and economic strength over the coming ten years.

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Morocco receives a €240 million injection for enhancing its water and power sector.

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