Azerbaijan, Baku, Feb.7 / Trend, A. Taghiyeva /
The Islamic Development Bank (IDB) has allocated credit funds totaling $295.8 million for the implementation of three projects in Morocco, the Bank's website reported on Thursday.
According to the report, $200 million of these funds have been allocated to the project to create a hydroelectric complex, aimed at meeting the growing demand for electricity in the country. It is expected that the complex will produce 170 megawatts of electricity.
The IDB's second loan worth $84.8 million has been granted to the project for drinking water supply to eight provinces of Morocco. As a result of this project, in 2016 access to drinking water will expand to 96 percent from the current 71 percent.
Also, the bank has allocated $11 million for upgrading roads in one of the country's provinces.