The Spanish banking institution Santander has lent Morocco 95 million Euros for the purchase of a high-altitude patrol boat from Navantia, a Spanish state-owned shipbuilding company.
This purchase will create 250 work opportunities over the course of the next three years in the bay of Cadis, reported Spanish media Ok Diario.
The Moroccan head of government Aziz Akhannouch signed an agreement endorsing the 95 million Euros loan.
In January 2021, Mara Jess Montero, the Spanish minister of finance, announced the deal for the building of the patrol boat with the Moroccan Royal Navy.
The project, according to Navantia, “opens the door to the contracting of other similar units, implying more hours of work and greater jobs for the shipbuilding industry.”
Navantia first presented the project to Morocco in august 2020 in competition with other shipbuilding companies.
The company’s history with Morocco offered a good basis for the new deal: Navantia previously supplied patrol boats to the Moroccan Navy in the 1980s.
The project was delayed by the ongoing diplomatic conflict between Morocco and Spain in 2021 and 2022, which lasted for several months.
From Spain allowing the arrival of the Polisario Front leader to the country, to African migrants forcing their way into Ceuta, Morocco and Spain had difficult diplomatic tensions.
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