AfDB lends Morocco $314mln to improve airport infrastructures

[MrRight]

AfDB lends Morocco $314mln to improve airport infrastructures
Tunis - The board of directors of the African Development Bank (AfDB) agreed Wednesday to grant Morocco a loan of 2.6 billion dirhams (313.4 million dollars) to renovate the country's airport infrastructures.

The loan is destined to modernise airport facilities and improve the functioning of the airports of Casablanca, Fez, Agadir, Marrakech and Rabat which receive the bulk of air traffic from and to Morocco, a statement of the AfDB said.

The project will enable the north African county to revamp its airports in order to meet international standards in terms of capacity, safety and security. It will also contribute to satisfying traffic demands and comply with the provisions of the "Open Sky" and "Single Sky" agreements signed with the European Union (EU) for airlines deregulation.

The AfDB's will chip in 75% of the total cost of the airports' overhaul which stands at 3.5 billion dirhams, while Morocco's airport authority (ONDA) will contribute the remaining 25%.