A loan agreement granted by the Arab Monetary Fund : 22/12/2009

A loan agreement granted by the Arab Monetary Fund

Mister Salaheddine Mezouar, Minister of Economy and Finance and Mister Jassim Al Mannai, Director General of the Arab Monetary Fund (AMF), signed in Monday, December 21st, 2009 a loan agreement with a total value of MD 772 million to finance structural reforms in the financial sector.  During this meeting, the Minister pointed out that the loan reflects the confidence of the AMF in the national economy and its ability to cope with the effects of the international economic crisis. He also brought to minds the measures taken in this framework, namely supporting structural reforms, sectoral strategies and growth dynamics.

For his part, the Director General of the AMF welcomed the excellent cooperation and relations linking Morocco and the AMF, emphasizing at the same time the continuing interest of the fund to take part in financing the structural reforms committed by Morocco.

The loan brings the total funding granted to Morocco by the AMF and its funding program in the United Arab trade up to MD 16.8 billion at the end of 2009.