Abu Dhabi fund loans Morocco $ 70 mln

The Abu Dhabi (United Arab Emirates/UAE) Development fund on Wednesday loaned Morocco 700 000 dirhams, more than $ 70 million, to finance the construction of a road along the Mediterranean coasts. The loan accord was initialed Wednesday by economy, finance, privatization and tourism minister, Fathallah Oualalou, and the director of the UAE fund, Said Khalfan Ar-Romaiti.

The Mediterranean road will be 520-km-long and will the northern city of Tangiers to the sea resort town of Saidia.