Morocco gets $ 97.6 mln loans from World Bank

The World Bank granted Morocco on Friday two loans worth $ 97.6 million to support the communications and agriculture sector, the Bank announced on Friday.

The first loan worth $ 65 million will expand the access and range of communication, information and financial services through the postal network for general users, businesses and rural population, emphasizing the introduction of competition and the participation of private providers.

The project will support the government's program to deepen market liberalization, increase private participation, extend services and strengthen the regulatory environment of the telecommunications sector. It will also assist the government in formulating and implementing a strategy for the use and development of information technology. The project will also formulate a national strategy for the postal sector, including the financial services provided through the network, which will serve as a basing for further specific reforms.

The loan is reimbursable in 20 years and carries an 8-year grace period.

The second loan, worth $ 32.6 million will help improve income and quality of life of rural communities through on small and medium irrigation in Azilal, Khenifra and Al Haouz provinces by rehabilitating and improving irrigation. The project will also pilot new institutional arrangements designed to ensure greater community participation and integration of sectoral programs through the Rural Development Fund.