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Image header Agence Europe
Europe Daily Bulletin No. 9799
Contents Publication in full By article 33 / 37
GENERAL NEWS / (eu) eu/eip

FEMIP to support road and electricity infrastructure in Morocco

Brussels, 08/12/2008 (Agence Europe) - The Facility for the Euro-Mediterranean Investment and Partnership (FEMIP), the financial arm of the European Investment Bank(EIB) for the Mediterranean, on Friday 5 December granted two loans of €170 million and €60 million respectively to Moroccan public institutions. The first loan, which was granted to the National Electricity Office, will help to improve the electricity network in Morocco, a country in which demand for energy is experiencing a sharp increase. This project is co-funded by the World Bank (€92 million), the African Development Bank (€110 million) and the French Development Agency (€50 million). The second, which goes to the road infrastructure fund, will help to build more than 15,000 km of roads by 2010, to help free up rural areas. This development is co-funded by the French development agency (€60 million), the World Bank (€50 million) and the Neighbourhood Investment Facility (€9.8 million). (O.L./transl.fl)

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