The Spanish Council of Ministers greenlit the repayable of a €250 million loan for an Acciona-owned company, financing the design, construction, operation, and maintenance of a desalination plant.
This project involved a consortium comprising Acciona (Spain), Green of Africa (Nigeria), and Afriquia Gaz (Morocco).
This move aligns with Spain’s “Horizon Africa” strategy, aiming to strengthen the presence of Spanish businesses on the continent while contributing to African development through essential projects.
The plant is expected to be one of the most important desalination facilities in Africa.
It’s important to clarify that these are not handouts. Spain utilizes export aid credits, essentially repayable loans, to finance these ventures.
The government emphasizes its goal of increasing Spanish companies’ presence in Africa and enhancing Spain’s overall position in the region.
The “Horizon Africa” strategy, referenced by the Council of Ministers, is a key part of this effort. Led by the Ministry of Industry, Commerce and Tourism, it aims to bolster Spanish businesses operating in Africa and solidify Spain’s regional standing.
The loan is facilitated through the Fund for the Internationalization of the Company, a mechanism specifically designed to support Spanish companies venturing abroad, in this case, Acciona.
Spain’s involvement in Moroccan water infrastructure extends beyond these loans.
In 2020, a separate €5 million credit was granted to Morocco’s National Office of Electricity and Drinking Water for desalination plants in Zag and Moulay Brahim.
Three years later, another €5 million unlinked credit was approved for water purification plants in the same locations.
The Spanish Agency for International Development Cooperation (AECID) also contributes through regional programs like Masar, focused on Arab countries, which includes water projects in Morocco.
From 2018 to 2023, records from the National Subsidies Base show that the Spanish Agency for International Development Cooperation (AECID) registered 47 calls for project proposals in Morocco.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.