Morocco hosted April 17th and 18th, 2012 in Marrakech, the annual meetings of the Arab fund institutions. The opening session of this event was characterized by the Royale letter, read by the Minister of Economy and of Finance, Mr. Nizar Baraka.
At these meetings, the governors of these institutions which are the Ministers of Economy and Finance of the Arab countries adopted the 2011 annual report that deals with the financial activity of these institutions. They also appointed the auditors for the year 2012.
During this event, the (FADES) board of directors` members was renewed. The Managing director as well as the members of the board of directors of the Arabic Bank of Economic development in Africa were also appointed.
In the context of these meetings, the Minister of Economy and Finance and the Managing director of the (FADES) signed agreements of an amount of 108 million dollars to finance Jdida-Asfi highway project.
In addition, the Minister and the President of the Islamic Bank of Development signed a memorandum of understanding to strengthen the co-operation and the development of the Kingdom of Morocco.
Was present during this event Mr. Driss Azami Al Idrissi, the deputy Minister in charge of the budget.
During these annual meetings of the Arab financing institutions, the Minister of Economy and Finance held bilateral meetings with his counterparts of the present Arab countries.