World bank loans morocco $ 70 million

The World Bank has agreed to extend Morocco two loans worth $ 70 million destined to improve the Moroccan health sector and to raise living standards in mountainous areas.

The 1st loan valued at $ 66 million will serve to improve medicare and hospital management while the 2nd loan ($ 4 million) will be used to improve living conditions of low-income inhabitants residing in mountainous zones.

Since Morocco joined the World Bank in 1958, it has received 150 loans and credits totaling $ 8.1 billion. Current WB annual average lending to Morocco is US $ 300-400 million.

Forty-five percent of the WB loans extended to Morocco are used for infrastructure, 13 percent in private sector development, 10 percent in agriculture, 13 percent in water and environment, 10 percent in education, and 9 percent in health.