African Development Bank loans Morocco 110 mln USD for infrastructural improvement

Source: Xinhua| 2019-11-29 21:49:49|Editor: xuxin
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RABAT, Nov. 29 (Xinhua) -- The African Development Bank (AfDB) said on Friday that it will loan Morocco 100 million euros (110 million U.S. dollars) to support the country's infrastructure projects.

These projects, led by local authorities, are aimed at improving the quality of public services especially in rural areas, and at developing local new economic and industrial activities, according to an AfDB press release.

"This move will enable local and regional authorities to strengthen the attractiveness of their territories to support, more generally, Morocco's industrial acceleration dynamic," Mohamed El Azizi, AfDB's director general for the North African region, was quoted as saying in the press release.

Morocco is one of the main beneficiaries of AfDB's funding, with a cumulative commitment of more than 10 billion dollars.

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