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Spanish bank lends $92m to Morocco to buy warship from Spanish firm

The Carnival Radiance cruise ship, operated by Carnival Corp., in dry docks during servicing at the Navantia SA shipyard in Cadiz, Spain, on Tuesday, Sept. 28, 2021. [Angel Garcia/Bloomberg via Getty Images]
The Carnival Radiance cruise ship, operated by Carnival Corp., in dry docks during servicing at the Navantia SA shipyard in Cadiz, Spain, on Tuesday, Sept. 28, 2021. [Angel Garcia/Bloomberg via Getty Images]

Morocco yesterday announced a loan agreement with Spanish multinational financial services provider, Santander Group, to fund buying a warship from a Spanish shipbuilding company.

According to Anadolu, a Moroccan state newspaper published the decision of Prime Minister Aziz Akhannouch stating that a loan contract worth $92.2 million had been signed with Santander Group.

The Moroccan newspaper stated that the financial company will fund the purchase of the warship which will be built by the Spanish state-owned shipbuilding company, Navantia.

In January, Spain's EL PAÍS newspaper reported that the Royal Moroccan Navy has awarded a contract to Spanish shipbuilder Navantia to build a new offshore patrol vessel (OPV).

The Moroccan Navy announced the specifications of the contract for the construction of the OPV in April.

READ: Morocco labour union calls on gov't to reduce prices

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