Islamic bank loans Morocco $ 5.1 mln

The Islamic Development Bank said Friday it approved a $ 5.1 loan to Morocco to be paid back over 25 years.

The Jeddah-based Bank also said it donated Morocco another $ 345,000 to be used in struggle against illiteracy.

Morocco is currently trying to literate 584,000 people mostly rural women, the Bank said in a release sent to MAP.

Morocco is trying to downsize illiteracy to 47 percent of its population by 2004.