The African Development Bank has lent €100 Million to Morocco’s Communal Equipment Fund to support sustainable infrastructure projects aimed at reducing territorial and social disparities in the North African Kingdom. The loan agreement was signed Friday in Rabat by the African Development Bank (AfDB) and le Fonds d’équipement communal (FEC). AfDB Country Manager for Morocco, Achraf Hassan Tarsim, said the loan will enable FEC to finance infrastructure projects and enhance territorial attractiveness conducive to inclusive development. Since 1978, the African Development Bank has injected over than € 12 billion in various sectors carried out in Morocco. The Bank’s funding focuses on social development and projects in energy, water, finance, transport, and agriculture.

Source: The North Africa Journal March 16, 2024 12:32 UTC