Morocco to get $1bn from the African Development Bank
Morocco is set to receive a $1bn loan from the African Development Bank, bringing its total financing of the Maghreb country to $3.6bn, according to Reuters.
A deal for $370m was signed on December 5th to help Morocco strengthen economic governance, improve water infrastructure and establish an industrial area in the new Nador West Med port, a Mediterranean transshipment port on the country’s north coast set to open in 2025.
The African Development Bank is also considering a $650m loan to aid Morocco’s co-hosting of the 2030 soccer World Cup with Spain and Portugal.
The money would go to developing the country’s rail and airport infrastructure for the upcoming tournament.
Maghrebi stresses that reporting on Morocco by Reuters is tainted by a special relationship between the news agency and Rabat, and therefore cannot entirely back up what its correspondent, a Moroccan gentleman, writes.
Reuters
