The Saudi Development Fund (SDF) has extended Morocco a sum of 45 million Saudi Rials loan (about $ 11.36 million) to co-finance low-cost housing projects, Morocco’s official news agency (MAP) reported.
The loan, according to MAP, is subjected to a preferential interest rate of 3 percent, will be repaid over 20 years.
The Saudi fund will cover 73 percent of the 220 hectare housing project, which will comprises 10,000 houses in Selouane in the north-eastern city of Nador, and a second project in Ain Aouda in the region of Rabat which consists of some 3000 plots of lands covering 86 hectares – Albawaba.com
