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  • 02-12-19

    USD110m loan from AfDB to reach Morocco

    (MENAFN) Morocco was announced to be receiving a loan valued at USD110 million from the African Development Bank (AfDB) with a purpose to back infrastructure initiatives implemented within the country.

    Through the infrastructure projects, Morocco will see its public services quality reinforced, with a focus on rural areas as well as the creation of fresh local economic and industrial plans.

    Director General for the AfDB's North African region Mohamed El Azizi stated "this move will enable local and regional authorities to strengthen the attractiveness of their territories to support, more generally, Morocco's industrial acceleration dynamic."

    Morocco is unveiled among the key targets of AfDB's financial support, considering a cumulative commitment of over USD10 billion.

    MENAFN0212201900450000ID1099355195

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