In a joint move to support the hardest-hit areas by the recent earthquake, Morocco and Spain have inked an agreement to redirect €11.6 million from their debt conversion program towards rehabilitation and reconstruction projects. This monumental decision aims to address the devastations caused by the tremor that rattled the Al Haouz region in Morocco on September 8.
According to Morocco’s ‘Al Ahdat Al Maghribia’ daily, the agreement to reallocate these funds was sealed by Nadia Calviño, Spain’s Deputy Prime Minister and Minister of Economy and Digital Transition, alongside her Moroccan counterpart, Nadia Fattah, the Minister of Economy and Finance. This significant alignment was struck on the sidelines of the annual meetings of the International Monetary Fund (IMF) and the World Bank, which concluded their sessions last Sunday.
The shared statement further underscored the longstanding ties between Spain and Morocco. In light of the disaster in the Al Haouz province, both nations emphasized their mutual intent to bolster their existing collaboration grounded on sustainable and social development principles.
Drawing attention to the larger picture, this act is more than just a financial gesture. It marks a reaffirmation of the close-knit ties between the two Mediterranean neighbors, further strengthening their mutual commitment to prosperity and shared values in the face of adversity.
