The European Bank for Reconstruction and Development (EBRD) has approved a €250 million loan to Morocco’s National Office of Electricity and Drinking Water (ONEE) to modernize water infrastructure and improve water security, according to a statement by EBRD on Tuesday. The financing package includes a €120 million committed tranche, a €130 million uncommitted tranche, and a €5 million investment grant. The operation is the first EBRD loan in Morocco backed by a guarantee from the state-owned credit guarantee institution Tamwilcom. The funds will support a nationwide investment program aimed at reducing water losses, repairing and expanding water infrastructure, improving the resilience of strategic water assets, and deploying digital technologies to enhance network management. The project also includes technical assistance to improve ONEE’s management of climate-related risks and expand its use of sustainable financing.