German Bank Provides 285-Million-USD Financing Package for Morocco
TEHRAN (ANA)- The Moroccan government and Germany's KfW Development Bank reached deals on a financing package worth 257 million euros in total (about 285.4 million U.S. dollars) for Morocco's development projects.
The deals, comprising three loan agreements totaling 250 million euros, two of which are accompanied by two grants amounting to 7 million euros, were reached between Fouzi Lekjaa, the Moroccan minister delegate in charge of the budget, and Janne Rajpar, director of KfW's Morocco office, at a ceremony in Rabat.
The package would help expand a social protection program for Morocco's vulnerable population, promote its sustainable urban and interurban transportation, and increase the irrigation efficiency in its agriculture sector.
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