By Ahmed Eljechtimi
RABAT (Reuters) – The African Development Bank (AfDB) signed a deal on Thursday to lend 350 million euros ($370 mln) to Morocco and is considering loaning the country another 650 million euros to finance infrastructure for the 2030 World Cup.
The agreed loan would help Morocco boost economic governance, strengthen water supplies and set up an industrial zone in the Nador West Med port, the AfdB said in a statement.
The loan agreement was signed during the AfDB’s Africa Investment Forum in Rabat.
The AfDB is also mulling a financing of 650 million euros to develop Morocco’s rail and airport infrastructure for the 2030 soccer World Cup, which Morocco will co-host with Spain and Portugal, bank chief Akinwumi Adesina told reporters.
AfDB’s total financing to Morocco covers 37 projects worth $3.6 billion.
(Reporting by Ahmed Eljechtimi; Editing by Toby Chopra)
