French agency grants Morocco 100 million francs to fight unhealthy housing

The French Development Agency (AFD) has granted Morocco a long-term loan worth 100 million French Francs to fight unhealthy housing.

The agency says the loan, granted at a 3 percent interest rate, will contribute to financing real estate development programs and struggle against various forms of unhealthy housing.

A first package of projects, comprising 6,395 land plots over a 173 hectare area and struggle against shanty towns, was already announced as meeting the eligibility requirements set by the French agency and will therefore get financing ranging between 15 and 85 percent.

The agency is also ready to grant funds for administrative support of the Moroccan agency in charge of fighting unhealthy housing. The support will include development of training programs, the improvement of the agency's performance and consolidation of its financial capacity.