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.

More News