World Bank Approves $236.7 Million Loan for Northeast Morocco Development Project

This is a loan agreement aimed at financing the economic development project in the Northeast of Morocco. According to a press release from the Ministry of Economy and Finance, this signing took place at the end of a working visit to Morocco by the Vice President for the MENA region at the World Bank, Ferid Belhaj. Nadia Fettah Alaoui took this opportunity to thank the World Bank for the financial and technical support it provides to Morocco, which allows it to carry out several large-scale projects in many sectors.

For his part, the World Bank Vice President for the MENA region is pleased with the good health of the relationship between Morocco and the World Bank, reiterating the institution’s availability to continue to help Morocco achieve its economic and social development goals.

The signing ceremony for this new loan agreement was held in the presence of the Minister of Energy Transition and Sustainable Development, Leila Benali, and the Director of the Maghreb Office of the International Finance Corporation, Xavier Reille, as well as several regional senior officials of the Bank.