Morocco: EU funding for 890 million in three years

The Moroccan Minister of Economy and Finance, Mohamed Boussaid, has stated that, over the past three years, the European Union has granted loans to the North African country for a total amount of 890 million.

During a conference on economic and financial cooperation between Morocco and the European Union, held in Rabat, Minister Boussaid noted that these loans are intended to support infrastructure programs, initiatives for socio-economic development, consolidation of governance, strengthening Morocco as a strategic partner of the EU in the MENA area.

The Kingdom of Morocco, in fact, holds the "advanced status" in relations with the European Union, being the first beneficiary country of the neighborhood policy implemented by Brussels. From the point of view of economic cooperation, Minister Boussaid stressed that the European Union is the first commercial partner of Morocco (with a share of 70% of the interchange) and the first investor in the Kingdom. The growing collaboration between the EU and Morocco has allowed the gradual legislative approximation and consolidation of multidimensional cooperation (economic, cultural, social, in terms of security, etc.).

The Rabat Executive decided to intensify the dialogue with the European Union, through a special interministerial committee, which follows the timely implementation of the partnership, with powers of coordination of the competent departments. (ICE CASABLANCA)

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