VOL. XLII

No. 22

31-May-1999

MOROCCO

AFESD Approves $56Mn To Morocco For Water Projects

The Arab Fund for Economic and Social Development (AFESD)announced on 21 May that it has approved a loan worth $56mn for the finance ofwater projects in the Moroccan town of Agadir. The loan is to be used to helpfund the construction of a dam and water supplies and carries a maturity of 22years, a five-year grace period and an interest rate of 4.5%.