Morocco and the Arab fund for economic and social development signed Monday two agreements for a loan and a guarantee, of a total amount of 35 million Kuwaiti dinars (over US$ 120 million). This sum is directed to finance the construction of a speed way linking the Tangiers Mediterranean Port to the national highway.
The 54 km-long speed way will allow users to rapidly reach the port and its planned free trade zones, MAP reported.
The Kuwait-based fund has so far financed 46 development projects in Morocco, for a total amount of US$ 2.3 billion.
The fund, established in 1968, is a regional development body that finances, through preferential loans, economic and social development projects in Arab countries. (menareport.com)
© 2004 Mena Report (www.menareport.com)
