Brussels, 21/03/2014 (Agence Europe) - A European Investment Bank (EIB) press release has indicated that the EIB will grant Morocco a loan of €150 million to “develop and modernise its roads and ensure better traffic circulation and user safety”. This loan will be managed by the Caisse pour le financement routier (CFR), which will be in charge of projects in this area.
The loan agreement was signed on 19 March by EIB vice president, Philippe de Fontaine Vive, and the Moroccan minister for equipment, Azziz Rabbah. Road development infrastructure, said de Fontaine Vive, would help to “support growth and job creation at the heart of the country and promote tourism and investment”.
Over the past three years, Morocco has received EIB support of just over €1.4 billion in funding for developing projects in key sectors of the Moroccan economy, such as energy, SMEs, infrastructure, water, agriculture and youth training. (FB)