TechInAfrica –Moroccan Minister of Economy, Finance, Administration Mohammed Benchaaboun, and Vice President of EIB (European Investment Bank) Emma Navarro partnered to secure €100 million for the aftermath of COVID-19 in the country.
The funding will be geared towards the medical supplies and equipment purchase while increasing hospital capacity and health facilities overall.
It’s also the first funding the country ever received for the COVID-19 battle.
Navarro believes that acting rapidly is crucial in limiting the pandemic’s impact on population health.
EIB, who has been a vital partner to Morocco for more than 40 years, has been supporting the country specifically on economic development. It has granted more than
€5 billion for Morroco since 2007, with the 30 percent reserved for the private sector.
The pandemic strengthens EIB commitment to support businesses in need of liquidity. It also provides scholarships to students of the Euro-Mediterranean University.