AfDB President Donald Kaberuka on Official Visit to Morocco

15/12/2006
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AfDB President Donald Kaberuka on Official Visit to Morocco

Signs some 284 million euros Loans Agreements

  • AfDB is Morocco’s premier development partner
  • Bank’s Country Office in Rabat Inaugurated

Rabat, 14 Decemeber, 2006 – The President of the African Development Bank (AfDB) Group, Donald Kaberuka, has signed loan agreements amounting to 284 million euros (2.3 billion Moroccan dirhams) with the Kingdom of Morocco and inaugurated the Bank’s office in Rabat.

The three loan agreements consist of a 118.6-million euro highway between Marrakech and Agadir, an 80 million euros potable water and sanitation project – the 9th such project in the country – and the second phase of a public administration reform programme (PARAP II) for which the Bank provided 85 million euros in funding. With these loans, approved in June and July 2006 by the institution’s Board of Directors, the Bank becomes Morocco’s premier development partner.  The AfDB’s cumulative lending to the Kingdom since operations started in 1970 is currently 4 billion euros, approximately 45 billion dirhams.

Mr. Kaberuka, who is In Morocco for a three-day official visit, has been holding a series of meetings with government officials.  He is scheduled to visit a number of Bank-financed projects in the country, including the Moulay Abdellah high school in Rabat, the electrical interconnection installations in Tanger that would service both Morocco and Spain, and the Tanger Mediterranean port building site in the northern coastal city.

The Country Office in Rabat, which boasts a public information centre and modern telecommunications equipment, including videoconferencing facilities, will improve the efficiency of the Bank’s operations in the country and facilitate dialogue with local authorities and development partners.  It is one of 25 national and regional Offices that the Bank is opening in Africa.


Unité des relations extérieures et de la communication
Tél.: +216 71 10 29 16 – Fax: +216 71 10 37 52 – E-mail: comuadb@afdb.org

Bureau national de la Bad au Maroc
Tél.: +212 37 56 59 37 /  37 71 38 26/27 – Fax: +212 37 56 59 35 – E-mail: comuadb@afdb.org


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Contacts

Chawki Chahed Phone: +216 71 10 27 02