Thursday 07 Apr 2016 - 10:51 Makkah mean time-29-6-1437
Image from Medias24
Rabat, (IINA) - Saudi Arabia gave Morocco $230 million of funds for health projects, agricultural development, and construction in Morocco, Medias24 reported.
Of the total amount, $80 million will build the first phase of an irrigation project in Saiss, near Fez and Meknes. Another $50 million are earmarked for the purchase of medical devices for public hospitals. The remaining $100 million will be allocated for the completion of small to medium-sized construction projects in the kingdom, Morocco World News reported.
The gift is an implementation of the third agreement from this year’s joint annual meeting of Arab financial Institutions, which took place in Bahrain on April 5 and 6. Saudi Arabia’s Finance Minister Ibrahim Al-Assaf and the Moroccan Minister of the Economy and Finance Mohammed Boussaid attended the meeting.
The signing of the agreement took place in the presence of Eng. Youssef Bin Ibrahim Bassam, vice president of the Saudi Arabian Development Fund.
Boussaid, who headed the Moroccan delegation at the meetings, confirmed meetings with a number of finance and economics ministers from other Arab countries.
The minister said that the annual meetings witness the allocation of funds from the Arab Fund for Economic and Social Development, the Arab Monetary Fund, the Arab Bank for Economic Development in Africa, and the Arab Organization for Agricultural Development.
The ministers at the conference discussed and evaluated the annual performance reports of Arab financial institutions and shared development plans for the upcoming year.
SM/IINA
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