Rabat has concluded three loan agreements totaling 250 million euros, as well as two grant agreements amounting to 7 million euros with the German Development Bank. These contracts are related to financing in the areas of social protection, sustainable mobility, and irrigation.

Improving the living conditions of the population through a support program for the social protection project is the main focus, where an initial preferential loan of 120 million euros was allocated, along with a donation of 2 million euros.

The second focuses on financing the Fund for Supporting Urban and Interurban Road Transport Reforms (FART). In this context, the loan amounts to 100 million euros, backed by a grant of 5 million euros.

It will be used to promote and finance the development of a modern and climate-friendly public transportation system in Moroccan cities and municipalities.

The third funding, amounting to 30 million euros in the form of a loan, is dedicated to the project "Improving the efficiency of water consumption in irrigated agriculture (Sidi Mohamed Cherif Perimeter)".

It will contribute to the valorization and efficient use of regulated irrigation waters downstream from the Ouljet Essoltane dam.

Article source: africanews