Germany extends Morocco loans and donations worth $ 185 ml dm
Morocco-Germany, Economics, 6/27/2000
Germany will extend Morocco loans and donations of a total amount of 185 million DM ($ 110 mln) for years 2000 and 2001 to carry out development projects.
The amount comprises 10 million DM in donations, 80 million DM as loans (to be paid back over a 40-year period at an interest rate of 0.75% a year) and an additional loan of 95 million DM.
The accord provides for a program to improve performances of the State-owned drinking water company "ONEP," a project to build two hydro-electric firms and small and medium irrigation facilities.
The accord also provides for increase of German donations destined to Moroccan industrial pollution-control fund (FODEP).
The accord was initialed Monday by Moroccan economy and finance minister, Fathallah Oualalou and German ambassador to Morocco, Hans-Dieter Scheel,
Morocco and Germany agreed during Moroccan-German intergovernmental negotiations on cooperation for development (joint commission) held here this June 20-22, to promote cooperation in four major sectors namely drinking water and sanitation, environment protection, rural development and upgrading of Moroccan economy.
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