Financial and Banking News
AID FLOWS
SFD Lends Morocco $45mn
The Saudi Fund for Development (SFD) has agreed to lend Morocco SR165mn ($45mn) to part-finance the construction of a multi-purpose electricity and irrigation project which will also supply water for the city of Fez, according to an agreement signed on 16 June. The $561mn project, which is also being co-financed by KFAED, entails the construction of the Ayat Ayub dam and Matmata tunnel.
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