World Bank lends Morocco 31 million euros for road construction

The world Bank lent Morocco 31 million euros to contribute to the construction funding of some 625 km of roads, part of the country's programme of rural road building (PNRR-II).

The loan agreement, signed in Rabat Friday, is to be paid back over a 17-year period with a three-year grace period on interests. The cost of the current tranche of road building is estimated at MAD 409 million, about 40 million euros. The Moroccan rural road construction program will help built or repair around 15,000 km of roads between 2005 and 2015.