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AMF lends Morocco $ 97.631mln to fund financial reformsRabat - The Arab Monetary Fund (AMF) loaned 772 Million dirhams (some $ 97.631mln) to Morocco to fund reforms in the realm of finance.
The loan agreement was signed on Monday in Rabat by Morocco's Finance Minister Salaheddine Mezouar and AMF's Director General Jassim Al Mannai. The loan, part of a compensatory loan granted by the AMF within the framework of its cooperation relations with Morocco, brings the total loans granted by the Arab financial institution to the North African kingdom this year to 3 Billion dirhams. Speaking at the signing ceremony, Mezouar said that the loan shows AMF's confidence in Morocco's economy and in its ability to face the world economic crisis. AMF's Director General described structural reforms implemented by Morocco to face the global economic downturn as "wise" and commended the social measures adopted by the Kingdom's government.
Last modification
12/21/2009 05:22 PM.
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