EIB grants Morocco MAD1.65bn loan to finance road network modernisation

The European Investment Bank (EIB ) has granted Morocco a loan of 1.65 billion dirhams to finance the road network modernization program under an agreement signed Wednesday in Rabat. The loan, granted to La Caisse pour le financement routier (CFR), will help finance the expansion and strengthening of about 1.650 km of roads. The loan agreement was signed by minister of infrastructure, transport, and logistics, Aziz Rabbah, and EIB vice-president, Philippe de Fontaine Vive, in the presence of minister of economy and finance, Mohammed Boussaid. On this occasion, de Fontaine Vive and Boussaid welcomed cooperation ties between Morocco and EIB, reaffirming their shared commitment to further developing them. The road network modernization program is part of the integrated development policy implemented by the ministry of infrastructure, transport, and logistics to improve the transport sector in order to strengthen the competitiveness of the economy.