African Development Bank, Morocco's second fund donor

The African Development Bank (ADB) is Morocco's second-largest fund donor after the World Bank with the financing of some sixty projects worth $3.8 billion, said ADB President Omar Kabbaj.

Kabbaj told the Moroccan television channel "2M" that the ADB has financed projects in all sectors of activity in Morocco and recalled that during the past two years, the financial institution co-financed a project to promote savings and a project for the rehabilitation of railways as it contributed to the restructuring of the telecommunications sector.

He said the bank which initiated its restructuring three years ago has supplied during the past two years loans to 50 African states, worth $1.8 billion per year. The African financial institution is now orienting its actions toward the struggle against poverty, sustained development and the private sector promotion.