Brussels, 08/07/2009 (Agence Europe) - The European Investment Bank is to lend €200 million to Morocco to help finance an ambitious schools modernisation programme, improving access to education for 6 to 15-year-olds. The loan contract was signed today by EIB Vice President Philippe de Fontaine Vive and Moroccan Economy and Finance Minister Salaheddine Mezouar on the margins of a meeting of EU and Mediterranean finance ministers to review activity of FEMIP, the Facility for Euro-Mediterranean Investment and Partnership managed by EIB (EUROPE 9937).
The total cost of the four year (2009-2012) schools programme is estimated at €3.1 billion, of which the Kingdom of Morocco plans to finance €2.6 billion. The EIB loan will cover roughly 40% of the external financing needs. Other partners include the European Commission, Agence Francaise de Développement and the African Development Bank.
The Moroccan schools programme has several aims including: overcoming physical barriers to compulsory education for 6 to 15 year olds by constructing more than 2,500 new classrooms, mainly in rural areas; expanding the availability of pre-school places for children aged 4 and 5 years; building more than 300 new upper secondary schools; and improving teacher training. It will be supported by €15 million of grant aid from the European Union's Neighbourhood Investment Facility. (O.L./transl.jl)