World Bank loans for Morocco, Egypt

In a statement released in Paris on Wednesday, the World Bank said that it approved on Tuesday a loan to Morocco estimated at US $200 million and another to Egypt at US $143 million to cover expenditures on projects covering various sectors.

The statement noted that the loan to Morocco will cover water projects in addition to municipalities savings and financing projects. In Egypt, two thirds of the loan (US $90 million) will be for financing reforms in the health sector aiming at reducing mortality rate among children and pregnant women.

Another US $35 million was allotted to combat pollution through enabling the Egyptian authorities concerned to intervene in this respect. US $15 million was allotted to develop agriculture in the eastern part of Nile Delta, a project which will benefit some 26,000 families. US $2 million will be allotted to improving port services. The loan will be repaid within 35 years including a 10-year grace period.