Financial and Banking News

AID FLOWS

Canada and Italy Provide Loans to Morocco

The Canadian International Development Agency (ClDA) is to extend a C$15mn loan to Morocco to finance the purchase of 200 Canadian-made ambulances and 10,000 rails for Morocco's railway company, according to an agreement signed on 4 May. Italy will also provide IL10mn in loans and grants to finance a program to develop small farming machines in Morocco.