The Board of Directors of the African Development Bank (ADB) has approved a €215 million loan to finance the water sector adjustment program in Morocco.
Funding of the program will be in the form of budget support with a view to accommodating measures specific to the water sector. The objective of the program is to ensure a more economical use of water as well as protection and conservation of water resources of the country.
Furthermore, the program will ensure better resource mobilization and allocation in the water sector and improve the quality of the service of the institutions in charge of water management and sanitation, stated a press release.
ADB operations in Morocco date back to 1970 and has so far contributed €3.76 billion to the Arab state. The newest loan will help the Moroccan government establish new regulations for resources management, tariffs, budget allocation, public-private partnerships and intercommunity arrangements. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
