Rabat, Morocco (TMT)- Saudi Arabia is supporting Morocco with a three non-refundable grants funding agreement amounting to $ 230 million, to finance projects under the Moroccan government supervision.
The Saudi financial contribution aims to finance the first part of an agricultural irrigation project in the Fez-Meknes region ($ 80 million), another project that will provide medical equipment for public hospitals ($ 50 million), and support Moroccan Small and Medium-sized Enterprises ($ 100 million).
Mr. Mohammed Boussaid, the Moroccan Minister of Economy and Finance, and Mr. Ibrahim Ben Abdelaziz Al Assaf, Minister of Economy of Saudi Arabia, signed, Wednesday, April 6th, 2016 in Manama, three non-refundable grants funding agreement amounting to $ 230 million on the sidelines of the joint annual Meetings of Arab financial institutions and the Council of Ministers of Arab Finance that took place in Bahrain.
The Moroccan Times.
