Arab News Japan

TOKYO: Morocco and Japan exchanged notes on Friday for a Japanese ODA loan of up to 27.76 billion yen ($193 million) designated as the “Universal Health Coverage Development Policy Loan.”

Japanese Ambassador to Morocco KURAMITSU Hideaki and Fouzi Lekjaa, Morocco’s Minister Delegate to the Minister of Economy and Finance, exchanged the notes in the capital Rabat.

The loan will support the implementation of various policy and institutional reforms to expand the availability and quality of maternal and child health and nutrition services in the country, as well as improving the health insurance system in Morocco.

It aims to help with the achievement of universal health coverage in Morocco and to contribute to the country’s economy and socio-economic development.

The loan’s interest rate is just 1.50 percent per annum and can be repaid over a period of 30 years.