RABAT, March 12 (Xinhua) -- The European Investment Bank (EIB) has granted the Moroccan Motorway Company (ADM) 80 million euros (90.4 million U.S. dollars) to upgrade highway infrastructure in the region of Grand Casablanca, EIB and ADM said in a joint statement Tuesday.
The loan will finance the tripling of the Casablanca-Berrechid highway lanes on 25.8 km and the construction of a 31.7 km long bypass of Casablanca, the statement pointed out.
This loan reflects Europe's commitment to supporting the development of Moroccan infrastructure, said EIB Vice President Emma Navarro.
For his part, ADM Managing Director Anouar Benazzouz noted that this loan will contribute to the development of the Casablanca metropolis, improve the flow of traffic and strengthen the safety of users.
Since 2007, the EIB has invested over 5.6 billion U.S. dollars in new projects in various sectors of the Moroccan economy, including urban transport, energy, water and sanitation and youth education.