|
Arab fund grants $8.4 million loan to Morocco
Morocco-Regional, Economics, 4/14/2000
The Arab Fund for Economic and Social Development will grant Morocco a $8.4 million loan to partially finance an electricity project.
The project will enable the Moroccan electricity utility "Office National d'Electricit" (ONE) to use, during slack periods, the surplus of electricity produced by the thermal power stations to pump water from the Afourar waterfalls (central Morocco). The stocked water will be used to produce 450 MGW of electricity in peak periods.
The project, to cost nearly $200 million, will be co-financed by the European Investment Bank.
The loan agreement was signed in Rabat Thursday by the fund's general manager, Abdellatif Youssef Al Hamad, and the ONE assistant general manager in the presence of Moroccan Minister of Economy and Finance Fathallah Oualalou.
Previous Stories:
Morocco attends World Bank energy week
(4/12/2000)
Morocco's oldest industrial zone to be restructured
(4/6/2000)
Commission approves five investment projects worth $580 million
(3/2/2000)
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
|
Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info
|
