Morocco largest beneficiary of AfDB’s loans

Morocco has received in 2019 loans from the African Development Bank (AfDB) worth 3 billion dollars funding 35 projects, bringing total loans by the African development finance institution to 10 billion dollars since the 1970s.

AfDB’s funding makes Morocco on top of the list of beneficiaries of loans which covered areas such as energy, transport, water and sewage as well as social development.

The Bank’s projects helped 16 million people get access to transportation infrastructure and connected nearly 7 million to the electricity grid, the AfDB said in a report describing its activities in Morocco as very satisfactory.

The AfDB is a multilateral development finance institution founded in 1964 and comprises three entities: The African Development Bank, the African Development Fund and the Nigeria Trust Fund.