Morocco, AFESD sign over $ 200 mln financing agreement

Morocco and the Arab Fund for Economic and Social Development (AFESD) signed, on Thursday in Rabat, a 1.8 bln dirham ($ 214 million) agreement to contribute to the financing of the Tangier-Med II and Dar Khrofa dam projects.

 

The signing ceremony was presided over by Moroccan Economy Minister, Salaheddine Mezouar, Director General and President of AFESD’s Board of Directors, Abdellatif Youssef Al Hamad and President of the Executive Board of Tangier-Mediterranean Special Agency (TMSA), Toufiq Ibrahimi.

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[1] Morocco, AFESD sign over $ 200 mln financing agreement


Archive pour 25 novembre, 2010

Morocco,success story economically

Morocco is, in many ways, a « success story » economically, said Assistant Secretary of State for Economic, Energy and Business Affairs, José W. Fernandez, underlining that he was « very much impressed » by the economic growth achieved in the last few years and the opportunities that the country offers. »Morocco is, in many ways, a success story economically, » the American official told MAP in an interview, highlighting Renault Nissan’s announcement of a billion dollar investment project in Tangiers to produce cars which will be exported to Europe. Proximity to Europe was among the reasons that motivated the French firm’s choice, as they « believed the infrastructure would be built and would be able to support this investment, » underlined Fernandez, who will pay a visit to Morocco, on December 6-7, as a part of a Maghreb tour.Fernandez, who attended the World Economic Forum, held in Marrakech on October 26-28, underscored that « liberalization helped Morocco to compete, » noting that the kingdom enjoys « a great potential to export not just to the US but to Europe as well. » American investors would like to see better relations between Morocco and the US, as they believe there are great opportunities, he stressed, adding that he « would like to see more trade between Morocco and the USA. »Since the Free Trade Agreement came into effect in 2006, economic trade between Morocco and the US posted a 150% increase, reaching 2.3 billion dollars.In addition to Morocco, the American official will visit Libya, Tunisia and Algeria, where he will take part in a summit on the US-Maghreb entrepreneurship, the US Department of State announced on Wednesday.This tour aims to « promote entrepreneurship and deepen economic relations with the Maghreb, » the same source maintained.

 

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[1] Morocco, « success story » economically, American official says

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