ADB invests 20 million USD in Argan infrastructure fund
23 February 2010
The African Development Bank is going to participate in the amount of 20 million Dollars in the Moroccan Argan Infrastructure Fund (ARIF), according to the AFP press agency.
The fund invests in infrastructures in North Africa in the sectors of energy, transport, logistics, recycling, and telecommunications infrastructures.
This financing from the ADB will be aimed in particular at the energy infrastructure.
According to a press release, the Bank is also seeking to use this financing to attract other private financing institutions.
In the water sector, the Islamic Development Bank (IDB) has granted Morocco a loan of 50 million Dollars.
These funds will be dedicated to upgrading water infrastructures in the regions of Taza and Fès.