The Minister of Economy and Finance,Mr. Mohamed BOUSSAID and Mr. Youssef Ben Ibrahim AL BASSAM, Vice-president and member of the Saudi Fund for development (SFD), signed Tuesday, November 05th 2013, in Riyadh, four grant agreements amounting to US $ 275 million between Morocco and the (SFD), in charge of the management of this donation.
The signing of these agreements is part of the use of a donation amounting to 1250 million US dollars allocated by the Saudi Arabia to Morocco within the framework of the implementation of the decision taken by the Supreme Council of the Gulf Cooperation Council in 2012, and which aims to establish a strategic partnership between the aforementioned Council and Morocco.
The granted amount will fund a series of projects concerning various strategic sectors of development spread over various regions of the Kingdom including social housing, education, and dams.
The signing of the above agreements constitutes the second batch of projects funded by the Saudi donation. The first batch, interesting four projects amounting to 400 million U.S. dollars, was signed on March 11th 2013.