rabats 250m boost loans and grants for sustainable development

Rabat’s €250M Boost: Loans and Grants for Sustainable Development

Rabat has successfully concluded three loan agreements totaling 250 million euros and two grant contracts worth 7 million euros with the German Development Bank. The funds are earmarked for initiatives in social protection, sustainable mobility, and irrigation.

The first subsidized loan, amounting to 120 million euros with an accompanying 2 million euros donation, is dedicated to a program supporting the social protection project. This aims to enhance the living conditions of the population.

The second loan, totaling 100 million euros with a 5 million euros grant, focuses on financing the Fund to support urban and interurban road transport reforms (FART). The objective is to develop a modern, eco-friendly public transport system in Moroccan cities.

The third financing, a 30 million euros loan, is allocated to the project “Improving the efficiency of water consumption in irrigated agriculture (Sidi Mohamed Cherif Perimeter).” This initiative aims to optimize regulated irrigation water usage downstream of the Ouljet Essoltane dam.

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Rabat Secures €250 Million Loans and €7 Million Grants from German Development Bank

Rabat’s €250M funding from the German Development Bank signals a strategic move towards sustainable development, addressing social needs, eco-friendly transport, and efficient irrigation. The allocated funds showcase a commitment to enhancing living conditions and fostering modern, climate-conscious initiatives for a more resilient future.