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Morocco tops North Africa loans
The European Investment Bank invested €1.41bn in North Africa in 2012, according to vice-president in charge of the Facility for Euro-Mediterranean Investment and Partnership (Femip), Philippe de Fontaine Vive. Morocco took the lion’s share of this with €1bn, of which €180m was spent on the third phase of the country’s 2012-15 energy access programme. The programme aims to reduce power losses, connect new power plants to the grid, and install 1,300km of transmission lines. The EIB is providing €100m for the construction of the 125-160MW Ouarzazate concentrated solar power (CSP) project, the largest to date under the Mediterranean Solar Plan, alongside the European Commission (€30m), the AFD (€100m) and KfW (€115m).
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