African Development Bank approves 150 mln euro loan for Morocco

RABAT, Dec. 11 (Xinhua) -- The African Development Bank Group (AfDB) has approved a 150-million-euro (about 176 million U.S. dollars) loan for Morocco to upgrade infrastructure and improve access to public services, the AfDB representative in Morocco said on Thursday.

The loan will be managed by the Municipal Equipment Fund, a subnational development finance institution responsible for financing infrastructure and investment projects for local municipalities in the North African country, according to a statement by the representative.