Advertisement
Canada markets closed

  • S&P/TSX

    21,875.79
    -66.41 (-0.30%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • DOW

    39,118.86
    -45.24 (-0.12%)
     

  • CAD/USD

    0.7314
    +0.0002 (+0.03%)
     

  • CRUDE OIL

    81.82
    +0.28 (+0.34%)
     

  • Bitcoin CAD

    86,427.32
    +3,418.80 (+4.12%)
     

  • CMC Crypto 200

    1,313.34
    +29.51 (+2.30%)
     

  • GOLD FUTURES

    2,333.50
    -6.10 (-0.26%)
     

  • RUSSELL 2000

    2,047.69
    +9.35 (+0.46%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • NASDAQ futures

    19,992.25
    +65.00 (+0.33%)
     

  • VOLATILITY

    12.44
    +0.20 (+1.63%)
     

  • FTSE

    8,164.12
    -15.56 (-0.19%)
     

  • NIKKEI 225

    39,616.90
    +33.82 (+0.09%)
     

  • CAD/EUR

    0.6798
    -0.0022 (-0.32%)
     

European investment bank to offer Morocco $1 billion euro loan

Reuters
·1 min read

MARRAKECH (Reuters) - The European Investment Bank said on Wednesday it will lend Morocco 1 billion euros ($1.06 billion) over the next three years to support the north African country's reconstruction efforts after a September earthquake.

The loan was announced by EIB Vice President Ricardo Mourinho Felix after a meeting with Morocco's budget minister Fouzi Lekjaa in Marrakech on the sidelines of the IMF-World Bank annual meetings.

The earthquake that struck on Sept. 8 killed nearly 3,000 people and damaged 60,000 homes, mostly in the High Atlas mountains.

Overall, Morocco plans to spend $12 billion on a post-earthquake reconstruction plan that includes the upgrade of infrastructure over the next five years.

(Reporting by Ahmed Eljechtimi; Editing by Chris Reese and Bill Berkrot)