The African Development Bank (AfDB) and Africa Growing Together Fund (AGTF) approved a 269 million euro loan to Morocco to finance the Guercif-Nador highway project (PAGN), reported AfDB on Monday.
The AfBD aims to contribute 200 million euros, while the AGTF will give 46 million euros to fund the PAGN.
This 104 km highway will run from Guercif, Saka, and Driouch, to the future Nador West Med Port (NMW), at an estimated cost of 7.4 billion MAD, according to the Ministry of Equipment.
The transportation industry is one of the key drivers of Morocco’s economic growth and development, as well as one of the Kingdom’s objectives. It generated 10% of government income and employed 5% of the working population, or 2.8% of national GDP in 2022.
The project is part of an effort to improve the country’s transportation infrastructure and related services to increase logistical competitiveness and attractiveness.
The program will, in particular, connect Morocco’s road network to the massive Nador West Med industrial port complex.
The highway will increase the connectivity of the Eastern region in order to attract more investment, provide new economic possibilities, and create jobs, as it will increase road safety on the Guercif-Nador route. Add to that the upcoming port of Nador West Med, which will aid in increasing the number of commodities passing through.