São Paulo – This Friday (14) in Rabat, the European Investment Bank (EIB) agreed on a 440 million euro loan for infrastructure projects in Morocco. In a press statement, the EIB vice-president Philippe de Fontaine Vive said the goal is to develop a modern, sustainable infrastructure in the country and promote the growth of key sectors, such as energy, transport and water.
Of the total loan, 240 million euros will be spent on building a road between the cities of El Jadida and Safi. The 142-kilometre stretch should improve the access of these industrial regions to cities such as Essaouira and Agadir. It is also expected to reduce the time it takes to cover the distance by 50%.
Another 180 million euros will be allocated to increasing energy generation capacity, make the electric system more reliable, and reduce losses. The project will be implemented between 2012 and 2015. Another 20 million euros will be spent on expanding the sewage collection system and building new sewage treatment stations in 27 cities, with populations ranging from 5,000 to 80,000.
*Translated by Gabriel Pomerancblum
