Morocco to Double Airport Capacity by 2030

Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
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Morocco to Double Airport Capacity by 2030

Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)

Morocco plans to expand its airport capacity to 80 million passengers by 2030 from 38 million currently, Prime Minister Aziz Akhannouch said.

The plan is part of Morocco's preparations to co-host the 2030 FIFA World Cup, together with Spain and Portugal, and promote tourism, Akhannouch told members of parliament.

Casablanca's airport capacity will be expanded to 23.3 million passengers, while tourist hubs Marrakech and Agadir will have a capacity of 14 million passengers and 6.3 million respectively by 2030, he said.

Morocco received a record 15.9 million tourists in the first 11 months of this year, surpassing the total in the entire previous year thanks to more air routes, according to tourism ministry figures.

Morocco is also working to extend its high-speed train network to Marrakech before the World Cup, and further south to Agadir.

The rail operator also aims to expand its network to double the number of cities it serves to 43, or 87% of the Moroccan population, by 2040.

The prime minister also mentioned the expansion and renovation of 45 stadiums and training sites in the six cities that are planned to host the World Cup, in addition to the construction of a new stadium with 115,000 seats near Casablanca.

Investments in stadium construction and expansion would cost Morocco up to 5 billion dirhams ($500 million), the government has said.

Morocco is also hosting the Africa Cup of Nations soccer tournament in 2025.



Pakistan Set to Receive $20 Billion Loan From World Bank

FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
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Pakistan Set to Receive $20 Billion Loan From World Bank

FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro
FILE PHOTO-People wait for their turn to buy low-priced bun-kabab from a shop in Karachi, Pakistan June 10, 2022. REUTERS/Akhtar Soomro

Pakistan is set to receive a loan of $20 billion from the World Bank over the next 10 years, aimed at improving the country’s key sectors, sources told Geo News on Saturday.

According to sources in the Ministry of Economic Affairs, the loan will be part of the World Bank's support under the Country Partnership Framework 2025-35, which focuses on sustainable economic development.

The loan is expected to be approved by the WB's Board of Directors on January 14. Once approved, Martin Raiser, the lender's Vice President, is expected to visit Islamabad to discuss the loan program and its implementation.

In addition to the $20 billion, two subsidiary entities of the World Bank will assist Pakistan in securing another $20 billion in private loans.

This would bring the total financial package to $40 billion, which will be allocated towards infrastructure development, climate resilience projects, and improving social services.

Meanwhile, The News newspaper reported that the government, in its bid to achieve an economic revival, has launched the National Economic Transformation Plan which aims to achieve ambitious economic targets, including doubling GDP growth and halving poverty over a five-year period.

The plan envisages attracting $29 billion anticipated investment under the supervision of the Special Investment Facilitation Council (SIFC) including $10 billion from the UAE, $5 billion from Saudi Arabia, $2 billion from Qatar, $2 billion from Azerbaijan, and $10 billion from Kuwait.

Meanwhile, the gross domestic product (GDP) target has been set at 6% of the GDP till the Fiscal Year 2028-29 whereas the per capita income in dollar terms is projected to go up to $2,405 from $1,680.