Global Arab Network | Saudi-based Islamic Development Bank to finance electricity projects in Morocco | Energy: "Morocco and the Saudi-based Islamic Development Bank (IDB) have inked several agreements worth 51.7 million dollars (around 410 million dirhams) to finance the last phase of the rural electrification program.
The deals were concluded by Economy Minister Salaheddine Mezouar and IDB's Chairman Ahmed Mohamed Ali. The signing ceremony was attended mainly by Energy Minister Amina Benkhadra and head of Morocco's electricity facility (ONE) Ali Fassi Fihri.
On this occasion, Mezouar lauded the outstanding role played by the IDB in promoting Morocco's socio-economic development and spurring its economic growth.
He also stressed that the Bank is a key-partner of Morocco, mainly in terms of carrying out social development programs, including the rural electrification program."
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