International Institutions Loan Morocco $ 600 Mln, Minister Says

Morocco said contacts it had with international financial institutions led to obtaining loans worth $ 600 million "at advantageous conditions."

Moroccan minister in charge of the government's general affairs, Ahmed Lahlimi, told a Moroccan daily that the African Development Bank extended Morocco $ 200 million and the World Bank $ 400 million.

The loans will be used to finance several social and economic development projects in Morocco.