Morocco and Kuwait ink US $ 250 million financial deal renewable anually
Morocco and Kuwait signed a financial agreement in Rabat on Thursday which will continue from 2012 -2016. The agreement will be run by the Kuwait Fund for Arab Economic Development.
Source : https://www.marocafrik.com/english/Morocco-and-Kuw...
It is intended to bankroll development projects in Morocco Kuna reported.The deal was signed by KFAED Director Abdulwahad Al Bader and moroccan minister of Finance and Economy Nizar Baraka in the presence of several ministers and Kuwait's Amassador in Rabat Shamlan Al-Rumi.
Commenting on the agreement KFAED's chief told Kuna that the agreement was part of Kuwait's commitment to the gulf cooperation support plant to Moroccco for US$ 5 billon over the next five years plan for suppoting economic,social and human development.
He said Kuwait's contribtion would be mainly used forbasic investments such as infrastucture,housing,ports,
motorways,farming and irrigation.
Hailing Moroccan-Kuwaiti cooperation he said that the Fund had supported 37 projects at a cost of nearly 388 billion Kuwaiti dinars in line with the bilateral development agreeement.
Commenting on the agreement KFAED's chief told Kuna that the agreement was part of Kuwait's commitment to the gulf cooperation support plant to Moroccco for US$ 5 billon over the next five years plan for suppoting economic,social and human development.
He said Kuwait's contribtion would be mainly used forbasic investments such as infrastucture,housing,ports,
motorways,farming and irrigation.
Hailing Moroccan-Kuwaiti cooperation he said that the Fund had supported 37 projects at a cost of nearly 388 billion Kuwaiti dinars in line with the bilateral development agreeement.
Source : https://www.marocafrik.com/english/Morocco-and-Kuw...