ADB Grants Morocco 80 Mln Euro Loan

The African Development Bank (ADB) signed in Tunis on Tuesday a loan accord granting Morocco 80 million Euros to reinforce electric networks between Morocco and Algeria, and Morocco and Spain.

"This accord is an efficient means to promote energy cooperation between countries in the region and evidences the importance that Morocco gives to this kind of projects," said Morocco's ambassador to Tunisia, Abdellah Belkziz, in a release sent to MAP-Tunis by the Moroccan embassy.

With this new loan, ADB commitments in Morocco reach over US $2 billion covering 72 operations, said ADB deputy-president, Thedore Nkodo, adding that the signature of the accord evidences the good relations between Morocco and ADB.

The loan agreement was signed by Morocco's ambassador to Tunisia and BAD deputy-president.