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Arab fund loans Morocco $ 50 mln
Morocco-Regional, Economics, 7/20/2001
The Arab Fund for Economic and Social Development has loaned Morocco $ 50 million to finance construction of a highway between Casablanca and Al-Jadida.
The loan aims at building a seven-meter wide highway stretching for 79 kilometers and will cover constructions of bridges, tunnels, fences and buildings for custom department.
The loan is to paid back in 22 years with a five-year grace period and at an annual interest of 4.5 percent.
The Fund's total loans to Morocco stand at around $ 1.719 billion.
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