Morocco gets $8 million OPEC fund loan to expand hospital

Morocco and the Geneva-based OPEC Fund for International Development signed a US$8 million loan agreement with Morocco to help improve medical services in and around the central city of Marrakech.

The loan, to be reimbursed in 17 years with a 2.25% interest rate, will be used to co-finance the creation of a new university hospital in the city by expanding and rehabilitating two existing facilities, the Ibnou Tofail and Ibnou Nafess hospital.

In addition to providing enhanced health care, the university hospital will offer increased opportunities for medical training and research in the region.

The project will involve the construction of seven new buildings, with a total floor area of 43,000 square meters, to house facilities for surgical wards, maternity services and radiotherapy. It will also cover the rehabilitation of 29,000 square meters of existing buildings to accommodate radiology and psychiatric wards. In addition, medical equipment, spare parts and supplies, along with necessary office furniture, will be provided for both the new and rehabilitated premises.

The Marrakesh region, with a 7 million population -including more than half living in urban areas, will thus get improved medical services and expand its capacity by 310 beds. Thanks to the new medical school under construction near Ibn Tofail Hospital, the project will also help meet the region's urgent need for medical training and teaching facilities.

Upon completion, the project will meet the demand for better hospital facilities, while alleviating pressure on university hospitals in Rabat and Casablanca.

Morocco has been the recipient of OPEC fund support on nine previous occasions with loans supporting projects in the sectors of energy, agriculture and national development banks

The agreement was signed in Vienna by Morocco's ambassador to Austria, Tajeddine Baddou, and chairman of the governing board of the OPEC Fund, Saleh A. Al-Omair.