RABAT, Nov 13 (Reuters) – The African Development Bank has lent Morocco €434.4 million ($479 million) to help the North African country improve its resilience to energy and climate-related shocks, it said on Friday.
• The loan, signed with the Moroccan government, is part of a programme aimed at improving the business environment, strengthening climate resilience, and encouraging private-sector investments, the bank said in a statement.
• The financing also aims to help Morocco address the effects of the crisis in the Middle East, particularly higher energy and transport costs.
• It will support reforms of state-owned enterprises, public-private partnerships and governance in the water and electricity sectors.
• Last month, the bank added the Moroccan dirham to its financing toolbox with the issuance of its first bond denominated in the Moroccan currency, worth 1 billion dirhams ($100 million).
(Reporting by Ahmed Eljechtimi; editing by Barbara Lewis)
