The agreement were signed here tuesday by Moroccan Economy Minister Salaheddine Mezouar and IDB Chairman Ahmed Mohamed Ali. The signing ceremony was also attended mainly by Energy Minister Amina Benkhadra and the head of Morocco's power utility, ONE, Ali Fassi Fihri.
Mezouar lauded the outstanding role played by the IDB in promoting Morocco's socio-economic development and spurring its economic growth. He also stressed that the Bank was a key-partner of Morocco, mainly in terms of carrying out social development programmes, including the rural electrification programme.
The IDB chairman hailed the excellent relationship between the north African kingdom and the Bank, underlining the importance of its partnership with ONE which contributed to the rural electrification programme in Senegal, thus bolstering Morocco's crucial role in backing the development of the IDB's sub-Saharan member states.
Since 1975, the funding by the Islamic Development Bank in Morocco has amounted to some 31 billion dirhams (about 3.8 billion USD), invested notably in the sectors of agriculture, irrigation, rural electrification and drinking water.
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