Financial And Banking

AID FLOWS

IBRD Lends Morocco $68mn

The World Bank has agreed to lend Morocco $68mn to help finance two large-scale irrigation projects, according to an announcement on 27 February. The projects, according to an IBRD statement, are expected to increase agricultural and livestock production, generate foreign exchange savings of $18.4mn, and eliminate more than $300mn a year in government subsidies. Also contributing to the projects are the Moroccan Government...