Two more loans to Morocco under negotiation from the World Bank

Loans granted by the World Bank to Morocco total $7.7 billion for 117 projects, and the two sides are currently negotiating a loan to support various projects and an exceptional one to support economic, social and telecommunications reforms, Map reported.

According to an official source, the first ordinary loan worth $165 million will support social program in the sectors of health, fisheries, the creation of a low-cost housing program and of a social fund. The second exceptional loan, which will range between $350 million and $400 million will support the government's action in economic, social and telecommunications reforms.

Morocco's minister for the government's general affairs, Ahmed Lahlimi, who is in charge of coordinating cooperation between the country and international finance institutions, said for fiscal 1997-98, the WB loan totalled $3.5 billion, including $14 million for cultural projects. The source said the World Bank is financing cultural projects for the first time.