Agreement between Morocco and the Saudi Fund:Allocation of $ 400 million in development projects

The signing of this agreement is the result of a strategic partnership between Morocco and the countries of the Gulf Cooperation Council (GCC), said Monday, a statement from the Ministry of Economy and Finance reported by the daily newspaper Au Fait.

This amount is part of a global donation of $ 1.25 billion that Saudi Arabia promised Morocco and will be used to finance development projects carried out in the framework of the INDH's  in vital sectors such as agriculture , education, health and housing.

As part of the Morocco-GCC Strategic Partnership, signed in 2011, the GCC decided to create a support fund with 5 billion given as a gift for the period 2012/2016, with contributions from Saudi Arabia , Qatar, the United Arab Emirates (UAE) and Kuwait. This donation will finance development projects having a direct and tangible impact on improving the living conditions of Moroccan citizens.