Kuwait donates Morocco $1.25 bn to finance development projects

from Morocco World News..

Kuwait City, June 27, 2013 (MAP)

The Kingdom of Morocco and the Kuwait Fund for Arab Economic Development signed, Thursday in Kuwait City, seven agreements under which the state of Kuwait donates Morocco 1.25 billion dollars to finance development projects in the Kingdom.

The donation will fund several projects in different regions of the Kingdom in strategic development sectors (roads, ports, dams, agriculture, health, national education and higher education), the Moroccan finance ministry said in a statement.

The projects will contribute to the development of infrastructure, the promotion of human resources and the improvement of living conditions of the population of the beneficiary regions, the statement said.

The ministry pointed out that “the Kuwaiti government’s initiative reflects the strength and depth of cooperation relations between the Kingdom of Morocco and Kuwait in funding development projects in Morocco, through the Kuwaiti Fund.”

Link to the article: http://www.moroccoworldnews.com/2013/06/95794/kuwait-donates-morocco-1-25-bn-to-finance-development-projects/

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