Kuwaiti fund to support rural road construction in Morocco

29/11/2007

[Getty Images] Mezouar

The Kuwaiti Fund for Arab Economic Development (KFAED) announced it will provide a 42m-euro loan to Morocco to support the construction of 500km of rural roads. Morocco's Minister of Economy and Finance Salaheddine Mezouar and Kuwaiti Fund Director-General Abdelouahab Ahmed El Badr signed the agreement on Tuesday (November 27th). The loan is part of the second national programme for the construction of rural roads launched in Morocco in 2005. Earlier this week the government secured an additional 45m euros from the African Development Bank (ADB) for the same project. The programme is part of a government effort to limit the isolation of more than 16 million inhabitants living in the country's rural areas.