Articles
Companies

Home / NEWS / Saudi to invest $1.25bn in Moroccan projects


Saudi to invest $1.25bn in Moroccan projects

by CW Staff on Oct 18, 2012

  Be the first to comment
RSS Feeds Print this page

Transport is one of the areas in which the Saudi funding will spent
Transport is one of the areas in which the Saudi funding will spent

RELATED ARTICLES: Sweett Group on track with Morocco hospital build | Saudi firm wins $1bn Morocco solar plant contract | Saudi Arabia and Morocco lead solar demand in MENA

Saudi Arabia is to invest $1.25bn into projects in Morocco through the Saudi Fund for Development (SFD), Arab News reports.

Finance Minister, Ibrahim Al-Assaf, said Saudi Arabia would finance a number of development projects in health, education, transport, communication, hotels, and agriculture.

The funding is part of an aid package extended to Morocco and Jordan by four GCC countries, with Morocco receiving $5bn in total.

The Saudi private sector currently invests in Morocco’s tourism, industry, agriculture and ports and Al-Assaf described Morocco as one of the best places for investment in the Arab world.

“Saudi Arabia and Morocco have gone a long way in discussing projects to be financed by SFD and both sides have agreed to set up a technical committee for the purpose,” Al-Assaf said, adding that an SFD delegation would soon visit Morocco to finalise the projects.

“We also discussed partnership between the government and the private sector, boosting joint investment projects and expanding trade exchange,” Al-Assaf said.

SFD has played a big role in supporting Morocco in the past and it will continue to finance development projects in the country in the coming phase, the minister added.


FEATURED COMMENT

Please click here to comment on this article

COMMENTS

Name *
Email *
City
Country
Subject: *
Comments: *
Math Question: *
Solve this simple math problem
and enter the result. E.g. for 1+3, enter 4.
Refresh the image if not clear
Remember me on this computer





Articles
Companies