Morocco gets $50 million loan from IDB to upgrade electricity sector
The Islamic Development Bank (IDB) has extended Morocco’s electricity office “ONE” two loans worth US$ 50 million to support the kingdom's electricity sector.
According to MAP, the loan agreements were signed Tuesday in Jeddah, Saudi Arabia.
The first loan, worth US$ 41.5 million will finance the electrification project of seven provinces while the second loan, worth US$ 8.45 million will be used to bring electricity to 1,221 villages in the southern region of Azilal. (menareport.com)
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