EIB Lends €300M To Morocco's 1st Solar Project

Law360, New York (November 20, 2012, 7:08 PM EST) -- The European Investment Bank and development banks in France and Germany on Monday inked a deal to help bankroll Morocco’s first solar plant with a €300 million ($384 million) financing package.

The EIB, the Agence Francaise de Developpement and Germany’s KfW Entwicklungsbank will each make €100 million loans to the Ouarzazate solar complex that the Moroccan Agency for Solar Energy is building in the northern part of the country, according to a statement from the EIB.

The loan package was facilitated by a €30 million grant...
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