Mr. Abdellatif LOUDYI, Secretary General of the Ministry of Economy and Finance, and Mr. Youssef Ben Ibrahim AL BASSAM, Vice President and delegate member of SFD, signed, on Friday March 13th, 2009 at the headquarter of the Ministry of Economy and Finance, a loan agreement of 60 million Saudi Rials, (around MAD 140 million) to finance Moulay Bouchta Dam project in the province of Chefchaouen.
The project, to be executed in 36 months, aims at ensuring drinking water supply for the population of Chefchaouen and the neighbouring agglomerations, and protecting Ali Tahil Dam from siltation.
The loan in question, with a 2% interest rate, will be reimbursed in 20 years with a five-year grace period.
Mr. Youssef Ben Ibrahim AL BASSAM and Mr Mohammed BENAISSA, General Secretary of the Foundation of Asilah Forum, then signed an agreement whereby the Saudi government pledges to donate $ 6 million (around MAD 50 million) to the Foundation of Asilah Forum to finance the construction of two primary schools, a secondary school and a high school in Asilah.
The signing ceremony was attended by Mr. Abdelkebir ZAHOUD, Under-Secretary to the Minister of Energy, Mines, Water and Environment in charge of Water and Environment.