The French Development Agency (AFD) granted Morocco a loan of 200 million euros (about 237 million U.S. dollars) to finance local projects, official RIM radio reported Thursday.
The funds were granted to the Municipal Equipment Fund, a government development finance institution in charge of financing infrastructure and investment projects of local municipalities in the North African country.
The loan will help finance new investment and public infrastructure projects aiming at reducing territorial and social disparities, and combating the effects of climate changes, the report said.
This is the second loan in less than a month the AFD has granted Morocco.
On July 13, it granted another loan of 150.6 million euros to support Morocco’s agricultural Green Generation Strategy.