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African Development Bank Group approves €100 million loan for Morocco to develop Africa’s first Lithium Ion Phosphate Battery Gigafactory

The Board of Directors of the African Development Bank Group has approved a €100 million loan to Gotion Power Morocco to finance the development of an integrated cathode-to-cell lithium iron phosphate (LFP) battery gigafactory in the Rabat-Salé-Kénitra Free Trade Zone. The Bank also plans to mobi. .

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