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AFESD loans MAD 2.2 billion to Morocco

Morocco signed on Wednesday in Rabat, two financing agreements worth MAD 2.27 billion with the Arab Fund for Economic and Social Development (AFESD) to finance two projects respectively on water and roads. The envelope will specifically contribute to the financing of the raising project of the Mohammed V dam in the Oriental region and the project to build the Laayoune expressway.

The first project will contribute to the improvement of water regulation in Oued Moulouya and compensate for the low storage capacity of the Mohammed V dam, due to the accumulation of sediments at the bottom of its reservoir, which will ensure the supply of drinking water and the development of agriculture in the Region. Concerning the Laayoune expressway, it is a link in the Tiznit-Laayoune-Dakhla road that is currently being built. This project, which will link Morocco and sub-Saharan Africa, is part of the Southern provinces development program.

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