OFID lends Morocco USD 30 million to finance Fes-Oujda highway project

The OPEC Fund for International Development (OFID), provided by Morocco property USD 30 million loan for the construction segment Fes-Oujda highway in accordance with the agreement signed here Monday.

328-kilometre motorway will be invoked, as in 2010 the central city of Fes in the eastern town of Oujda, on the border with Algeria.

1 billion dollars a draft final phase of ambitious programs to achieve the 1500 km road network by 2010.

When finished, Fez-Oujda motorway will be included in future Maghreban motorway network linking Nouakchott (Mauritania) to Tobrouk (Libya).

OFID has provided Morocco fifteen loans since 1977, covering strategic sectors, such as drinking water, sanitation, energy, health, education, construction of dams and rural development.

300 000 USD loan agreement will be signed on May 5, between the two parties to finance a project to conserve Tambardoute perimeter in the southern province of Guelmim.