The European Bank for Reconstruction and Development (EBRD) is supporting Morocco’s water security with a €250 million loan to Office National de l’Electricité et de l’Eau Potable (ONEE).
The loan consists of a €120 million committed tranche and a €130 million uncommitted tranche, and is complemented by a €5 million investment grant. It is the first EBRD loan in Morocco to benefit from a guarantee from Tamwilcom, the country’s national credit guarantee institution.
The financing will support a nationwide investment programme that aims to improve the efficiency, resilience and sustainability of water production infrastructure. Investments will focus on reducing water losses, rehabilitating and expanding critical infrastructure, strengthening the resilience of strategic water assets and deploying digital technologies to enhance network management.
A dedicated technical cooperation package will help to maximise the impact of the investments. It will strengthen and help implement a comprehensive corporate climate governance programme at ONEE, and will support the development of ONEE Water’s sustainability-linked financing framework, positioning the company among the pioneers of sustainable finance in the region.
Haytham Eissa, EBRD Head of Morocco, said: “This partnership reflects our shared commitment to strengthening Morocco’s water security at a time when the country is facing increasing pressure from climate change. The investment will also support ONEE’s long-term transformation by embedding climate resilience and sustainability into its governance and financing framework. We are also particularly proud that this transaction is the first EBRD loan in Morocco to benefit from the Tamwilcom guarantee mechanism.”
The EBRD has invested more than €6.2 billion in Morocco since beginning operations in the country in 2012, supporting the private sector, the green transition and sustainable infrastructure.
