AfDB Supports Morocco’s Rural Electrification with €245 Loan

The African Development Bank (AfDB) approved on Wednesday a €245 million loan to the National Office of Electricity and Drinking Water (ONEE) to enable the Moroccan utility company expand its rural electrification projects.

“Developing a reliable electricity network will enable the Kingdom to meet an energy demand recording a 5 pc annual growth” said Mohamed El Azizi, the Bank’s Director for North Africa region.

The loan will help the ONEE provide electricity to more than 16,000 households in 720 villages.

Morocco is the largest beneficiary of the AfDB loans. Since 1970, the North African Kingdom received 10 billion dollars in funding for energy, transport, water and socioeconomic development projects.

The Bank’s projects helped 16 million people get access to transportation infrastructure and connected nearly 7 million to the electricity grid.

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.