Morocco Secures $227 Million Loan for Tiznit-Dakhla Express Road Project

The Agreement was signed this week by the Moroccan Government, represented by the Ministers of Economy and Finance, Mohamed Benchaaboun, and of Equipment, Transport, Logistics and Water, Abdelkader Amara. On the FADES side, it was Abdullatif Yusuf Al-Hamad, Director General and Chairman of the Board of Directors, who initialed this agreement.

In detail, it consists of two loans totaling 2.27 billion dirhams. One concerns the project to build the "express" road in the city of Laâyoune, currently under construction. Its work was launched in 2017. "This axis, which is the main road link between the north and south of the Kingdom, will strengthen the links between Morocco and the countries of sub-Saharan Africa," it is indicated.

The other loan concerns the project to raise the "Mohammed V" dam, in the Oriental region. Its objective is to improve and regulate the waters of the Moulouya Wadi; it "will compensate for the low storage capacity of the dam due to the accumulation of sediments at the bottom of its reservoir".

It should be noted that FADES has been operating in Morocco for more than 40 years, during which time it has contributed $4.4 billion to various infrastructure projects.