Japan has extended a $114.5 million (Dh1.26 billion) loan to Morocco to finance a 120 km-long road on the Mediterranean ring, Morocco’s official news agency (MAP) reported Wednesday.
The loan, carrying a 2.2 percent interest rate, is reimbursable over 30 years with a 10-year grace period, said the agency.
The 550 km-long ring, bordering the northeastern Mediterranean coastal areas, is designed to facilitate the movement of goods and people, increase economic and trade activity and improve living conditions of some 1.5 million inhabitants, MAP added – Albawaba.com
