Highlights

A Loan Agreement between Morocco and Kuwait to finance the project of the construction of a Dam in Khénifra. : 13/10/2009

A Loan Agreement between Morocco and Kuwait to finance the project of the construction of a Dam in Khénifra.

On Monday October 12th 2009, Mr. Salaheddine Mezouar, Minister of Economy and Finance and Mr. Abdulwahab Al-Bader, Director-General of Kuwait Fund for the Arab Economic Development (FKDEA) signed a loan agreement of 15 million Kuwaiti dinars.

The aim of this project is to contribute to the construction of Tamalout Dam on the Ansegmir River (Khénifra province). The Loan should spread out over a period of 24 years, with an interest rate of around 3% and a grace period of 4 years.

The construction of this dam will achieve the following objectives:

  • Irrigating about 5,000 hectares of land planted with Fruit trees;
  • providing nearby areas with drinking water;
  • supplying the groundwater which is downstream the dam;
  • Protecting the area from water floods.

It should be noted that this is the 36th agreement with the Kuwait Fund. The amount of these agreements is 382 million Kuwaiti dinars (about 11 billion dirhams). The previous loans were allocated to finance projects in the strategic sectors of the national economy such as agriculture, irrigation, dams, ports, drinking water, electricity and highways.