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FINANCIAL NEWS
Abu Dhabi finances high-speed train in Morocco at USD40mn
21 Nov 2016
(MENAFN) Abu Dhabi Fund for Development signed a loan deal to finance USD40mn high-speed train in Morocco to cut the distance between the cities of Tangier and Kenitra.
The deal was signed in Morocco in order to continue funding and investing in socio-economic development projects to alleviate living standards across the board.
In addition, the fund and the kingdom of Morocco have enjoyed historic ties back to 1976, while the latest co-op will ensure ease of movement for travellers.
The entirety of the Tangier-Kenitra high-speed train reaches AED515mn, bringing ADFD’s recent sum spending in Morocco to AED8.8bn.
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