Two loans amounting around 2.16 billion dirhams were ratified between Morocco and Japan. : 19/03/2010

Two loans amounting around 2.16 billion dirhams were ratified between Morocco and Japan.

On March 19th 2010, Mr.Salaheddine MEZOUAR, Minister of Economy and Finance and His Excellency Mr. Toshinori YANAGIYA, Extraordinary and Plenipotentiary Ambassador of Japan  in Rabat signed, at the Ministry of Economy and Finance, two Notes exchange agreements between the Government of Morocco and the Government of Japan, in the presence of the Chief Executive Officer of ONEP. In pursuance of these agreements, the Government of Japan granted Morocco two loans amounting in total 24 billion yen (about 2.16 billion dirhams) to finance the two following projects:

  • "Additional Financing of the Mediterranean Ring Road (State) (8, 455 MM yen, 763 million DH): this is about an additional funding of the " Mediterranean bypass" project, which involves the construction of Tetouan- Jebha section of a length of 120 km, to allow the opening up of the north, the coastal economic reactivation and facilitation of access to basic infrastructure and social amenities to the region`s populations.

  • "Drinking water supply in urban areas" (Khemisset and Khouribga) of ONEP (15.487 MM yen, 1.4 MMDH): this project involves the construction of wastewater treatment stations and the strengthening of production and canalization of drinking water from surface water resources including water intakes on dams and water treatment station in areas of Khemisset and Khouribga.

    Following ratification of these notes exchange, two loan agreements were signed by JICA (Japan International Cooperation Agency),one with the Ministery of Economy and Finance,and the oder with of the ONEP,represented by its Chief Executive Officer.

    On this occasion, Mr. MEZOUAR first congratulated Mr. YANAGIYA on his appointment as Ambassador of Japan in Rabat and then reviewed various aspects of financial cooperation between Morocco and Japan. Both parties were proud of the quality of this cooperation, which reflects the relations of friendship and mutual respect between the two countries.

    In this regard, while emphasizing the exemplary nature of Moroccan-Japanese cooperation, Mr. MEZOUAR expressed the hope that the financial and technical support provided by Japan to our country could be more diversified  and more strengthened in the future, so as to further  contribute to the implementation of our ambitious programme of social and economic reforms, as well as of the implementation of sector development plan, both of which need important  funds and, therefore, need the full support of partners such as Japan.

    It should be noted that the size of the JICA`s commitments in terms of aid toward development projects in Morocco has significantly increased at a significant pace in the last ten years, reaching the figure of 244 billion yen, or about 2.41 $ billion (17.9 MM MAD).

    For his part, Mr. Toshinori YANAGIYA welcomed the excellent bilateral relations the two countries enjoy reaffirming that Japan and Morocco have managed to build an outstanding and fruitful cooperation, namely in water and roads areas. Recalling its commitment to Africa expressed at TICAD, Mr. YANAGIYA showed Japan`s willingness to support reforms undertaken by Morocco to consolidate economic growth and sustainable development.