Algeria Gate: Amid its continuous reliance on foreign financing, Morocco has obtained a new loan of 100 million euros from the African Development Bank to finance the first phase of a battery factory project for lithium and iron phosphate in Africa.

The loan will be directed to the company “Gotion Power Morocco,” a subsidiary of the Chinese group Gotion High-Tech, while the initial investment cost of the project amounts to around $1.3 billion, according to Reuters.
This loan reveals the continuation of Morocco’s approach of financing its major projects through external borrowing amid rising indebtedness and increasing reliance on international banks and financial institutions, which confirms the Moroccan economy’s inability to finance its projects with its own resources.



