European Union grants Morocco 890 million euros.

European Union grants Morocco 890 million euros.



The European Union has decided on Friday to grant Morocco a financial envelope amounting to 890 million euros for the period 2014-2017 under the European Neighbourhood and Partnership Instrument.

The budget the EU has allocated to Morocco for this 4 years-period has increased by 15% on an annual basis from last period (580 million euros). It will be spread over four annual installments with a total of 222.5 million euros per year.

The money is intended to finance the second generation of reforms initiated by the government. These reforms focus mainly on equitable access to basic services, support for democratic governance, employment, sustainable and inclusive growth and development of institutional capabilities.

The Moroccan Times.