The National Office of Electricity and Drinking Water (ONEE) has reached a new milestone in strengthening its international financing partnerships through the signing of a Letter of Intent with the European Bank for Reconstruction and Development (EBRD) and the National Company for Guarantee and Enterprise Financing (SNGFE). The agreement lays the groundwork for a new financing programme aimed at supporting the modernization and resilience of Morocco’s drinking water production infrastructure.

The Letter of Intent was signed on the sidelines of the EBRD Annual Meeting, held from 5 to 7 June 2026 in Riga, Latvia, during a high-level meeting bringing together representatives of the EBRD, ONEE and SNGFE under the auspices of the Ministry of Economy and Finance. The initiative reflects the shared commitment of the three institutions to advancing strategic investments that contribute significantly to climate change mitigation and sustainable water resource management.

The programme is designed to support the implementation of ONEE’s 2025–2030 Investment Plan, which provides for substantial investments to upgrade and optimize existing drinking water production facilities while integrating enhanced energy-efficiency standards and operational performance requirements.

In response to the growing challenges posed by climate change and evolving water demand patterns, ONEE is pursuing a flexible and adaptive implementation approach aimed at strengthening the resilience, efficiency and sustainability of its production infrastructure.

In this context, and following a request submitted by the Ministry of Economy and Finance, ONEE has initiated discussions with the EBRD to mobilize a long-term financing package of up to EUR 250 million. The financing is expected to be deployed in two tranches and complemented by investment grants and technical assistance designed to support project implementation and maximize developmental impact.

The financing will benefit from a guarantee provided by SNGFE under its dedicated programme for public institutions and state-owned enterprises, marking a significant step forward in the partnership between Tamwilcom and the EBRD in support of public investment financing in Morocco.

This new programme builds on a longstanding and successful partnership between ONEE and the EBRD, established in 2014. Since then, the EBRD has mobilized nearly EUR 119 million in financing for the drinking water sector managed by ONEE, including an initial EUR 65 million operation focused on improving the performance and efficiency of ONEE’s water activities. This project is currently approaching completion and has delivered highly satisfactory results.

Through this new phase of cooperation, ONEE and the EBRD reaffirm their shared commitment to strengthening Morocco’s water security, supporting the modernization of strategic water infrastructure and enhancing the sector’s resilience to climate-related challenges.

By leveraging international financing, technical expertise and innovative financial instruments, the partnership further contributes to the Kingdom’s sustainable development objectives and its long-term climate adaptation agenda.