- The African Development Bank (AfDB) said on Friday it offered Morocco two loans, each worth 120 million euros ($130 million), to finance an industrial zone.
- Nador West Med, a deepwater port under construction with an expected capacity of 3.5 million containers, is expected to host Morocco’s first liquefied natural gas terminal.
The African Development Bank (AfDB) has said it offered Morocco two loans, each worth 120 million euros ($130 million), to finance an industrial zone in a northeastern port and to improve economic governance in the country.
The first loan aims to develop an industrial zone at the port, known as Nador West Med, AfDB said in a statement. The new loan brings AfDB’s contribution to Nador West Med-related development projects to 489.8 million euros.
Likewise, Nador West Med, a deepwater port under construction with an expected capacity of 3.5 million containers, is expected to host Morocco’s first liquefied natural gas terminal.
Also, the second loan, the AfDB said, is designed to support Morocco‘s plans to enhance the governance of public enterprises, improve the business climate, protect against external shocks, and strengthen resilience to climate change.
According to central bank data, Moroccan government debt is expected to increase to 70.1 per cent of GDP this year from 69.5 per cent last year, with foreign debt representing 17.6 per cent of GDP in 2024.