The African Development Bank (AfDB) and China’s Africa Growing Together Fund (AGTF) have granted Morocco over 122 million euros (138.6 million U.S. dollars) to help Morocco improve its drinking water supply.
The loan agreements were signed Friday in capital Rabat by Director General of Morocco’s National Office for Electricity and Drinking Water (ONEE), Abderrahim El Hafidi, and AfDB representative in Morocco, Leila Mokadem.
The first agreement concerns an AfDB loan totaling 79.33 million euros, while the second is an AGTF loan for 43.36 million euros, managed by the AfDB.
AGTF is a co-financing fund of 2 billion dollars between AfDB and the People’s Bank of China to finance eligible guaranteed development projects in Africa.
These loans will support Morocco’s program to link raw water from several dams to treatment plants.
The program benefits a current population of 2.5 million, and it is expected to secure water supply for a total of 3.3 million people by 2040, the according to ONEE.