African Development Bank lends Morocco $ 386.4 million

The African Development Bank extended Morocco two loans worth $ 386.4 millions destined to finance several socioeconomic development projects.

The 1st loan, $ 276 Millions, will help Morocco create the adequate atmosphere for enhancing economic competitiveness and create job opportunities while the 2nd loan worth $ 110.4 Mln will allow Morocco maintain its fiscal balances and fund various projects in favor of low social layers.

The African Development Bank, which is based in Abidjan, has so far supplied Morocco about $ 2.8 Bln in loans and grants injected in agricultural, educational, industrial and health projects.