European investment bank extends Morocco 40 mln euro loan for irrigation

The European Investment Bank has extended Morocco a loan of 40 million Euros for a project to rehabilitate major irrigation facilities in Morocco.

The contract was signed by Moroccan minister of economy, finance, privatization and tourism, Fathallah Oualalou, and the Bank vice-president, Francis Meyer.

The project, extending over five years, is estimated to cost 84 million Euro.