Luxembourg, 23/10/2002 (Agence Europe) - The European Investment Bank (EIB) has announced a EUR 120 million loan to Morocco's Office National d'Électricité (ONE). The financed project aims to increase the transmission capacity of power interconnectors between Morocco and two neighbouring countries (Spain and Algeria) as well as to make the existing domestic network more secure and reliable. The loan will be use to double transmission capacity between Morocco and Spain, complementing the EIB's operation in support of the first interconnection between these two countries in 1995. The project will be co-financed by the African Development Bank (AfDB) and the Agence Française de Développement (AFD), underlining the excellent cooperation between these three major players in the financing of large-scale infrastructure projects in the Mediterranean region. In addition, by improving the reliability of the national network and expanding the capacity of an existing trans-European network, the project should in the long run assist the liberalisation of the local electricity market.