Monday 23 December 2024
 
»
 
»
Story

Mohammed Saif Al Suwaidi

UAE to fund development projects in Morocco

CASABLANCA, December 29, 2016

The Abu Dhabi Fund for Development (ADFD) is studying funding possibilities for range of new development projects proposed by the Moroccan government, a report said.

A special delegation from ADFD recently conducted a high-level meeting with representatives from a number of Moroccan ministries including the Ministry of Higher Education, Scientific Research and Training and the Ministry of Agriculture and Fisheries, reported Morocco World News.

 Moroccan officials highlighted strategies to promote sustainable development in key sectors such as health, education and energy.

“The proposed initiatives of the Moroccan government will drive socio-economic growth across all key sectors and create new job opportunities. This latest round of talks highlights the ADFD’s commitment to facilitating the UAE government grants to meet Morocco’s development goals,” Mohammed Saif Al Suwaidi, the director-general of the ADFD was quoted as saying in the report.

Reports indicate the ADFD has already given $952 million to Morocco in the form of concessionary loads. The funding was used to finance projects in transportation, housing, water, healthcare and education.

The visit took place within the framework of the UAE government grant contribution as part of the Gulf Development fund, a grant programme designed by the Gulf Cooperation Council (GCC), the report said.




Tags: Morocco | ADFD | Abu Dhabi Development Fund |

More Finance & Capital Market Stories

calendarCalendar of Events

Ads