Signature of three loan contracts for a total of 250 million euros and two grant contracts for 7 million euros
27/12/2023
On December 27, Mr. Fouzi Lekjaa, Minister Delegate in charge of the Budget, and Mrs. Janne Rajpar, Director of the KfW Office in Morocco, in the presence of Mr. Stefan Bantle, Minister Counselor at the German Embassy in Morocco, and Mrs. Monika Mlad, Head of German Cooperation at the German Embassy, proceeded at the headquarters of the Ministry of Economy and Finance, to the signature of three loan contracts for a total amount of 250 million euros and two grant contracts for an amount of 7 million euros intended to finance the following programs and projects:
- Program to support the social protection project through a subsidized loan of 120 million euros, combined with a grant of 2 million euros. This program will help improve living conditions for the population by supporting the Royal Social Protection Worksite.
- Financing of the Fund for urban and Interurban Road Transport Reform (FART) through a loan of 100 million euros, backed by a grant of 5 million euros. This German support will be used to promote and finance the development of modern, climate-friendly public transport services in Moroccan towns and cities.
- Project "Improving the efficiency of water consumption in irrigated agriculture (Sidi Mohamed Cherif perimeter)", worth 30 million euros in the form of a loan. This financing will contribute to the development and efficient use of regulated irrigation water downstream of the Ouljet Essoltane dam.
At the end of the ceremony, Mr. Fouzi Lekjaa and Mrs. Janne Rajpar expressed their satisfaction with the level of partnership between the Kingdom of Morocco and the Federal Republic of Germany, while affirming their willingness to engage in joint reflection to increase and reinforce access to KfW's financial resources.
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