(MENAFN- Qatar News Agency) Morocco has signed three agreements with the African Development Bank (AfDB) and the OPEC Fund for International Development (OFID) on improving governance in budget and linking the countryside sector to electricity network.
Moroccan Minister of Economy and Finance Nizar Baraka signed the first two agreements along with AfDB Vice President Aly Abou-Sabaa. The agreements approve a number of administrative issues related to AfDB-funded projects in Morocco, besides a six-million Dirham grant to modernize the regulatory framework for debt management.
The third agreement, signed between Baraka and OFID Director General Suleiman J. Al-Herbish, comprises of loans and guarantees on the funding of the second phase of delivering electricity to the countryside by Morocco's national electricity and water office.
The cost is estimated at $60 million. According to Baraka, the agreement will give electric access to more than 1,000 villages.
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