Japanese bank grants Morocco over $ 40 million loan to fund drainage program

The Japanese Bank for International Cooperation (JBIC) has granted the Moroccan office for potable water (ONEP) a loan of MAD 347,4 million (USD 40.8 million) to fund a program of liquid waste disposal.

The loan, with interest rates of 0.75 percent to be reimbursed on 40 years (including 10 years of grace period), will fund liquid waste disposal projects in three communes, ONEP said in a release.

Loans granted by the Japanese bank to Morocco since 1994 have reached MAD 2,3 billion (around USD 270 Mn). Funding was devoted to projects of potable water in urban and rural areas.

ONEP's program of liquid waste disposal will extend on five years (2005-2009) with a global cost of MAD 496 million (USD 58.3 Mn).