ADFD Supports Economic Development in Morocco – Final add

ABU DHABI, 21st November, 2015 (WAM) –xxxx. Projects. In line with ADFD’s commitment towards supporting the social and economic development in Morocco, the Fund has managed 7 projects to improve the water sector in Morocco, an important priority for the Moroccan Government to improve the standard of living of the people of Morocco. To date, the Fund has extended a total of AED738 million in concessionary loans and grants to support this vital sector.
As part of the GCC support programme for Morocco, ADFD has administered a number of government grants to support the water sector in Morocco, notably the construction of Kharoub dam which aims to provide the residents of Tangier and Asilah with drinking water through the construction of a 60-meter high dam near the city of Tangier. The dam, with a capacity of about 200 million cubic meters, will be used for storing rainwater and water flows from the valleys. The UAE’s contribution to the construction of the dam is AED 501 million.
ADFD is also contributing to a project to supply drinking water to Khouribga city and surrounding areas through the setting up of a treatment plant, a pumping station station and a 6km long and 1.6 diameter canal. The UAE allocated AED 88.9 million towards this project.
ADFD has funded and managed 5 healthcare facilities in Morocco through the allocation of AED 423 million aimed at improving the quality of healthcare services offered to Moroccan citizens in various parts of the country.
The Zayed Hospital in Rabat, funded by a government grant in 1989, demonstrates the UAE’s priority to provide world-class healthcare services to the people of Morocco. ADFD also managed another government grant to equip the Mohammed VI University Hospital Centre in Marrakech, a 916-bed healthcare facility that spread across an area of 8.8 hectares. The Centre includes a department for maternity and pediatrics, accommodating 247 beds over an area of 20,260 square meters.
The second part of the center, built on an area of 54,500 square meters, includes a specialized hospital with 585 beds and a 84 bed oncology hospital as well as a number of in-patient clinics. The UAE’s contribution to the project is about AED 238.7 million.
Given the important role of education in the development and prosperity of nations, ADFD has been keen to fund several educational projects in Morocco through the UAE’s allocation within the GCC development grant. This includes 12 projects worth AED360 million aimed at improving the higher education landscape in the country. The grant was earmarked to establish several vocational training institutes, build and expand university campuses, and set up and equip a college of medicine and pharmacy in Morocco.
Agriculture is an important contributor to the Moroccan economy and ADFD has supported this sector through the allocation of AED 200 million for three vital projects. Of these projects, Western Plain Agricultural project was funded in 1979 with a loan from ADFD. The project aims to improve the living standards of people in the Western region of Morocco by creating new job opportunities as well as expanding agricultural land through bringing about fundamental changes to the irrigation system.
The project covers an area of 45,500 hectares north of the city of Rabat. ADFD has also supported other agricultural projects in Morocco including Central Al Haouz that was supported in 1982 with the objective of raising the standard of living of people through accelerating agricultural production. The project also helped increase power generation from hydroelectric resources and facilitated the supply of drinking water to the city of Marrakech.
In the electricity sector, ADFD has managed three major projects that aim to supply adequate electricity for several Moroccan cities. Additionally, the fund has supported Moroccan electricity sector through its contribution to the GCC grant programme for Morocco.
These projects involve renovation of a number of power stations as well as increasing the capacity of power transmission networks across large Moroccan cities. ADFD’s contribution to the Moroccan electricity sector is estimated at AED130 million.
The development projects are in line with ADFD’s commitment to improving the standard of living in Morocco and aancing sustainable development through financing infrastructure projects. The projects also aim to stimulate economic and social growth, create new employment and investment opportunities and achieve greater social stability.
ADFD has also been working with other developing countries to help them overcome economic hurdles and achieve sustainable economic growth. The Fund has extended financial support and made massive investments in economically viable projects to help countries confront various economic challenges. ADFD also contributes to poverty eradication and achieving sustainable development across the world, especially in countries that suffer low development rates.
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SOURCE: WAM