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AfDB grants 245 million euro loan to ONEE

The Board of Directors of the African Development Bank (AfDB) has approved funding of approximately 245 million euros for the National Office of Electricity and Drinking Water (ONEE). A loan that will support the latter for the realization of its program of development of electricity transmission networks and rural electrification.

“Developing an even more reliable electricity transmission network will enable the Kingdom to meet an energy demand, growing at an average rate of around 5% over the last decade,” said Mohamed El Azizi, the Bank’s Director General for Economic Development in North Africa region.

This new operation will notably allow the connection to the electricity grid for the benefit of more than 16,000 households in 720 villages, adds for its part, Leila Farah Mokaddem, Country Manager of the Bank for Morocco.

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