Casablanca water utility makes $80 mln-long term loan from Moroccan banks

A group of Moroccan banks have granted the Casablanca water utility "Lydec," an affiliate of French "Lyonnaise Des Eaux," a long term loan of $80 million to finance its 1997-2002 investment program. A statement released by Lydec says this is the largest loan, entirely subscribed in Dirhams, ever granted in Morocco to finance infrastructure projects.

Lydec's 1997-2002 investment program is worth $ 200 million to be financed by share-holders ($80 million), the Moroccan banks' loan ($80 million) and self-financing ($40 million).