Finance Minister Signs Two Loan Agreements For 335 Million Euros

Finance Minister Signs Two Loan Agreements For 335 Million Euros



Finance Minister Mr Mohamed Boussaïd led the ceremony for signing a loan agreement that aims to support the development of capital markets and their financing. The loan comes to support Small and Medium Enterprises (SME) and a drinking water project in rural areas by the National Office of Electricity and Drinking Water (ONEE).

This loan agreement is part of the new strategic partnership framework that was established between Morocco and the World Bank for the 2014 – 2017 period in order to support structural and sectorial reforms and investment projects, declares Mr Boussaïd.

The Minister adds that 220 million euros will be allocated to develop the capital market and finance SMEs in the Kingdom; he stressed that strengthening the financial sector has been of high priority to the government.

The remaining 115 million euros will be used to facilitate the rural populations’ access to drinking water and sanitation.

This ceremony has known the attendance of Simon Gray the World Bank Country director of the Maghreb, Abdelkader Amara the Minister of Energy, Ali Fassi Fihri the CEO of the ONEE and Mohamed El Ouafa the Minister of General Affairs.

The Moroccan Times.