AFD Grants €50 Million Loan to Boost Moroccan Airport Safety and Efficiency

25 July 2019 – bySylvanus@Bladi · 1 min read

The French Development Agency (AFD) has granted financing of 50 million euros, in the form of a loan, with a grant of 400,000 euros, to the National Airports Office (ONDA). This financial contribution is part of the strengthening of air safety, airport security, as well as energy efficiency measures.

According to Mihoub Mezouaghi, Director of the AFD in Morocco, the financing will be used "to support ONDA in its mission to ensure efficient, sustainable and safe air transport, strategic for the economic and social development of Morocco and the region," reports agenceecofin.com.

In its 2017-2022 strategy for Morocco, the AFD is pursuing three main operational objectives. These are to enhance and protect human capital, contribute to the attractiveness of the territory, social cohesion and the reduction of spatial disparities, and finally to support energy and ecological transitions, and adaptation to climate change.

In terms of AFD commitments in Morocco, forecasts are around 350 to 400 million euros per year on average over four years.

In 1992, when the AFD started its activities in Morocco, a level of cumulative gross commitments of more than 5.7 billion euros was reached. This makes the Kingdom the largest beneficiary of AFD financing in the world.

Category: Economy

Keywords:

National Airports Office Convention French Development Agency