The Arab Fund for Economic and Social Development (AFESD) has extended Morocco two loans totaling 72 million Kuwaiti dinars (about 2.27 bln MAD) to help finance two projects. The loans will finance the rehabilitation of the Mohammed V dam in eastern Morocco, and the construction of the Laayoune expressway bypass in the South. The first project concerns the raising of the Mohammed V dam to improve the water regulation of the Moulouya River and compensate for the dam’s low storage capacity due to silting problems. The Mohammed V dam dates back to 1967. Partnership between Morocco and AFESD has been running for more than four decades, with the first financing operation by the Fund in Morocco taking place in 1975.

Source: The North Africa Journal June 19, 2019 17:48 UTC