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Morocco secures $272mn load for water projects

February 1, 2014

ArabianBusiness.com Staff

The Islamic Development Bank (IDB) has granted a AED1bn ( $272mn ) loan to Morocco to carry out projects for drinking water supply in Agadir and Chtouka Ait Baha. The loan agreements were signed, during a ceremony in Rabat , by Mohamed Boussaid , the Minister of Economy, and president of IDB group Ahmed Mohammed Ali , according to Moroccan news agency,MAP. The first project, which will benefit over 1.5mn people, involves the reinforcement of drinking water conveyance structures to transfer water produced by the Tamri treatment plant towards the city of Agadir . It also involves the construction of drinking water supply systems for the benefit of rural communes in Chtouka Ait Baha, said Boussaid during the ceremony. The second project, which falls under the Green Morocco Plan, will increase threefold the income of small farmers and will contribute to boosting their productivity and living conditions, he added. A memorandum of understanding (MoU) on the partnership strategy with the IDB group was also signed on the occasion.


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Source: Utilities Middle East (United Arab Emirates)


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