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.Luxury sandal maker Birkenstock notched a valuation of $8.32 billion in its market debut on Wednesday after shares opened 11% below their offer price.
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