World Bank grants Morocco $97.6 million
The World Bank has granted Morocco two loans totaling $97.6 million, with the aim of funding projects in the fields of communications and agriculture, reported the official Maghrebe Arab Presse news agency.
The first loan, worth $65 million, will support governmental programs aimed at enhancing market liberalization, increasing private participation in the economy and strengthening the regulatory environment of the telecommunications sector.
The second loan, worth $32.6 million, aims to improve the quality of life in Morocco‘s rural communities, through small and medium irrigation projects in Azilal, Khenifra and Al-Haouz provinces.
In June 2000, the World Bank approved a $5.3 million-loan to Morocco for a legal and judicial development project. The project was part of the Moroccan government's comprehensive five-year justice system reform program. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)