Highlights

Signing ceremony with the Kuwait Fund for Arab Economic Development (KFAED) of two loan and guarantee agreements : 19/07/2011

Signing ceremony with the Kuwait Fund for Arab Economic Development (KFAED) of two loan and guarantee agreements

Mr. Khalid SAFIR, Secretary General of the Ministry of Economy and Finance and Mr. Abdelouahab Ahmed Al Badr, Director General of (KFAED), signed Tuesday, July 19th 2011, at the headquarters of the Ministry of Economy and Finance the guarantee agreement on high-speed train project (TGV) linking Tangier to Casablanca. In addition, Mr. Abdelouahab Ahmed Al Badr, Director General of Kuwait Fund for Arab Economic Development and Mr. Mohammed SMOUNI, Director of the Development Department in ONCF signed a loan agreement related to the same project.

Indeed, the two agreements are the first tranche of the contribution of Kuwait Fund for Arab Economic Development to finance the high speed train project (TGV) that will link Tangier to Casablanca amounting to 25 million Kuwaiti dinars (about 712 million dirhams).