Germany extends Morocco loans and donations worth $ 185 ml dm

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.