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Rabat has concluded three loan contracts aggregating 250 million euros, as well as two grant contracts worth 7 million euros with the German Development Bank in sectors like social protection, sustainable mobility, and irrigation
Rabat has concluded three loan contracts aggregating 250 million euros and two grant contracts worth 7 million euros with the German Development Bank in sectors like social protection, sustainable mobility, and irrigation.
These funds have to be utilized to improve the living conditions of the population by chalking out feasible social protection projects. The first tranche of 120 million euros will be in the form of a subsidized loan. This will be accompanied by a donation of 2 million euros, which should be spent on people-centric programs.
Financing urban and interurban road transport reforms (FART) will form a part of the project since that would help ease the movement of people, decongest cities, and link the hinterland with towns and cities. Under this head, the loan amounts to 100 million euros, backed by a donation of 5 million euros. It will be used to promote and finance the development of a modern and climate-friendly public transport network in Moroccan cities and towns.
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The third financing, amounting to 30 million euros in the form of a loan, is dedicated to the project for Improving the efficiency of water consumption in irrigated agriculture. It will contribute to the valorization and efficient use of regulated irrigation water downstream of the Ouljet Essoltane dam.
