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    EU Investment Bank Approves €85 Million Loan to Morocco’s Highways Company

    06 Jan 2021

    Agadir – The board of directors of the Moroccan Company of Highways (ADM) recently convened and approved a financing contract for a loan worth €85 Million (MAD 893 million) with the European Investment Bank (EIB).

    The loan, which was signed without a state guarantee, is the first of its kind in Morocco. According to a statement released by ADM, it is “a great proof of confidence.”

    The deal was made on December 25, 2020, under the leadership of Abdelkader Amara, the Moroccan Minister of Equipment, Transport, Logistics and Water.

    The loan is a part of a bigger wave of infrastructural development in Morocco, with projects ranging from the expansion of highways, initiatives for environmental protection, to the development of Morocco’s sustainable energy ecosystem.

    Besides the loan, the Board of Directors approved the budget for 2021, also outlining areas of focus for the upcoming year.

    ADM reported a turnover of MAD 3 million ($336,000) in 2020, but expects an increase of over 21% in traffic in 2021.

    For 2021, ADM is also looking at major road repairs across 97 kilometers (compared to 70 kilometers in 2020), with an additional investment of MAD 1.3 million ($146,000) for the Casablanca-Berrechid trebling and Casablanca bypass, improvement of motorway safety, and accelerated deployment of the operations automation plan.

    moroccoworldnews

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