World Bank lends Morocco US $106 million for telecom and fisheries projects

The World Bank extended on Thursday Morocco two loans worth US $106 million destined to finance telecom and fisheries development projects.

The first loan, valued at US $101 million, will help Morocco implement a comprehensive package of pro-competitive reforms in the telecom, postal and information technology sectors to increase the competitiveness of the Moroccan private sector.This project will broaden access to communications services to the poor, particularly in rural areas, and to facilitate Morocco's transition to a global and information-based economy.

The second loan worth US $5 million is destined to enhance the competitiveness of the Moroccan fishing sector through the improvement of its management, planning and the launching of new pilot fishing projects.