RABAT, Morocco - A consortium of foreign banks has granted Morocco a $60 million loan to help finance oil imports, the government announced.

The Moroccan oil company SCP got the credit from a group that includes Banque Nationale de Paris, Banque Indosuez, and Societe Generale of France and Societe de Banque Suisse of Switzerland, according to the announcement.

Morocco imports almost all its petroleum and gas, mostly from countries on the Persian Gulf.

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