Spain Grants 250 Million Euro Loan for Water Desalination Project in Morocco

Spanish media has revealed new details about Spanish funding for a water desalination plant project in Morocco. Reports clarify that the 250 million euro amount is a loan, not a grant as previously believed.

Sources indicate that the loan is directed to a consortium of companies including Spain’s “Acciona”, Nigeria’s “Green of Africa”, and Morocco’s “Afriquia Gaz”. This funding comes as part of the Spanish government’s “Horizon Africa” strategy, aimed at supporting the international expansion of Spanish companies, especially in the African continent.

This move aims to strengthen the presence of Spanish companies in the region and improve their competitive position. The loan was granted through a fund dedicated to supporting Spanish company exports, with beneficiary companies committed to repaying the loan.

The project focuses on establishing a water desalination plant in North Africa using the latest technologies, which will contribute to meeting the growing water needs in the region and enhancing environmental and economic sustainability.

According to a Spanish newspaper, the Spanish government confirmed that this strategy aims to improve Spain’s position in the African continent by supporting technologically advanced infrastructure projects, contributing to the enhancement of economic and political relations between Spain and African countries.

It’s worth noting that this type of loan aims to boost Spanish presence in international markets, create job opportunities, and drive economic growth both inside and outside Spain.

This initiative highlights Spain’s commitment to international development and its strategic interest in strengthening ties with African nations through mutually beneficial projects. The water desalination plant is expected to have a significant impact on water security in the region, showcasing the potential of cross-border cooperation in addressing critical infrastructure needs.

About محمد الفاسي