Signing ceremony of Exchange of Notes between Morocco and Japan : 06/12/2013

Signing ceremony of Exchange of Notes between Morocco and Japan

Mr. Mohamed BOUSSAID, Minister of Economy and Finance and His Excellency Tsuneo Kurokawa, Ambassador Extraordinary and Plenipotentiary of Japan to Rabat signed, Friday December 6th 2013, at the Ministry of Economy and Finance, an Exchange of Notes between the Government of Morocco and the Government of Japan.
Following the signing of this document, a loan agreement was signed between the Resident Representative of the Japan International Cooperation Agency (JICA) and the Ministry of Economy and Finance. Under the terms of this Exchange of Notes, the Government of Japan grants Morocco a loan of 8.89 billion yen, or $ 100 million to finance the project to support the Basic Education Sector which focuses on two components:

• a project component of up to 40% of the loan amount for financing and managing the construction of 21 secondary schools with boarding schools in rural areas in four regions / AREF , Abda-Doukkala, Chaouia-Ouardigha, Gharb-Chrarda-BeniHssein and Marrakech-Tensift- Haouz

• a program component of up to 60% of the loan amount to provide qualitative support for learning at school level

This project aims to support the development of education by improving the access terms, quality and governance in this sector.

It will also contribute to reduce economic and social disparities between urban and rural areas by supporting the development of human resources through improving basic education in targeted rural areas. On this occasion, Mr. BOUSSAID, after congratulating Mr. KUROKAWA for his appointment as Ambassador of Japan in Rabat, reviewed the various aspects of financial cooperation between Morocco and Japan. The two sides were pleased with the quality of this cooperation that reflects the friendly relations and mutual respect between the two countries.