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The African Development Bank (AFDB) has approved a loan worth 110 million euros ($166.2 million) to help expand Morocco's electricity network.The loan will be used by state-owned National Electricity Office (ONE) to finance a thermo-solar power station project in Aïn Beni Mathar in eastern Morocco.
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The project is to increase the capacity of the power station from 250 megawatts to 450-470 megawatts.

Morocco's Energy Ministry says the initiative is aimed at diversifying energy sources, securing energy supply and meeting the growing demand in energy, thereby supporting the country's economic growth, Reuters said.

The agreement was signed earlier this week in Rabat by Morocco's Finance Minister Salaheddine Mezouar, the vice-president of AFDB, Thierry De Longuemar and the director of ONE, Younes Maamar.

The loan is to be paid in 20 years including a 5-year grace period, according to Moroccan officials.

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