Highlights

Signing of two grant agreements in the amount of $ 175 million between Morocco and the Saudi Fund for Development : 12/07/2015

Signing of two grant agreements in the amount of $ 175 million between Morocco and the Saudi Fund for Development

​On the sidelines of the International Conference on Financing for Development held in Addis Ababa from July 13th to 16th 2015, the Minister of Economy and Finance Mr. Mohamed BOUSSAID and Mr. Youssef Ben Ibrahim Al Bassam, vice president and representative of the Saudi Fund for Development, signed Monday, July 13th , 2015 two grant agreements in the amount of $ 175 million between the Kingdom of Morocco and the Saudi Fund for Development.

These agreements are part of a total donation of US $ 1250 million, allocated by the Kingdom of Saudi Arabia to the Kingdom of Morocco within the framework of the implementation of the strategic partnership between the countries of the Gulf Cooperation Council and the Kingdom of Morocco.

Such action reflects the quality of the fraternal ties binding the Kingdom of Morocco and the Kingdom of Saudi Arabia as well as the special cooperation relations in terms of support for development projects in our country through the assistance of the Saudi Fund.

The overall amount will fund the university hospital of Agadir (142 million dollars) and the faculty of medicine and pharmacy in the city of Agadir (33 million dollars).

Programs benefiting from this donation will have a positive impact as they enable the emergence of a health center in the region of Souss Massa Draa as well as improve health provision in favor of the population of the south of the Kingdom.

These two agreements are the fourth set of agreements signed within the framework of the Saudi donation. The first three sets of agreements, covering ten projects amounting to US $ 865 million, were signed in 2013 and 2014.