FINANCIAL NEWS

Morocco secures $126m loan from AfDB

08 Jul 2010

(MENAFN) The African Development Bank (AfDB) said that it has granted Morocco a loan of $126 million to finance the implementation of the fourth phase of the Public Administration Reform Support Program (PARSP IV), Kuna reported.

The loan agreement was signed in Tunis by Morocco’s ambassador to Tunisia, Najib Zerouali Ouariti, and AfDB Sector Operations Vice President, Aloysius Ordu.

The PARSP aims at setting up a modern administration capable of reinforcing the national economy’s competitiveness, improving the quality of services offered by the administration, and promoting e-administration.

The program is co-financed with the World Bank and the European Union and is in line with the Paris Declaration on aid effectiveness by supporting the implementation of reforms designed by Moroccan authorities to modernize their public administration.

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