AfDB lends Morocco Over €600 Mln to fund four inclusive development projects

The African Development Bank has agreed to provide Morocco four loans totaling over €600 million to enable the North African Kingdom build a 105-km long highway, enhance territorial competitiveness, modernize the university, and support sustainable forest development.

The agreements were signed Wednesday in Rabat by Minister in charge of the budget Fouzi Lekjaa and the Bank’s Country Manager Achraf Tarsim.

The first loan worth €200 million is destined for the construction of Guercif-Nador motorway project. The second also worth €200 million will serve to improve territorial competitiveness in Morocco.

The third loan valued at €120 million will support the Kingdom’s efforts for a digital, entrepreneurial and inclusive Moroccan university, while the bank’s fourth funding worth €84 million will be used for inclusive and sustainable development of forest areas.