German bank provides 257 million euros in loans and grants for Morocco
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Rabat has concluded three loan contracts totaling 250 million euros, as well as two grant contracts worth 7 million euros with the German Development Bank. They concern financing relating to social protection, sustainable mobility, and irrigation.
Improving the living conditions of the population via a program to support the social protection project, it is around this axis that a first subsidized loan of 120 million euros, accompanied by a donation of 2 million euros has been allocated.
The second concerns the financing of the Fund to support urban and interurban road transport reforms (FART). In this context, the loan amounts to 100 million euros, backed by a donation of 5 million euros.
It will be used to promote and finance the development of a modern and climate-friendly public transport offer in Moroccan cities and towns.
The third financing, amounting to 30 million euros in the form of a loan, is dedicated to the project “Improving the efficiency of water consumption in irrigated agriculture (Sidi Mohamed Cherif Perimeter)”.
It will contribute to the valorization and efficient use of regulated irrigation water downstream of the Ouljet Essoltane dam.
By AFP
