Arab bank funds development operations in Morocco
2007-10-22
The Board of Directors of the Arab Bank for Economic Development in Africa (BADEA) has earmarked $4.8m to fund six development operations and eleven technical assistance programmes in Morocco, MAP quoted a BADEA press release as saying on Saturday (October 20th). Earlier this year BADEA allocated $141m to finance development projects in infrastructure, agriculture, rural development, health, education, energy and mining in 43 African countries.
In related news Sunday, Morocco signed a memorandum of understanding with the Saudi Fund for Development (SFD) regarding a $50m donation to Morocco's National Initiative for Human Development (INDH). The donation will assist Morocco in generating employment and improving social benefits and services such as health, education, drinking water, housing, and transport in rural communities.
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