Morocco signs 701.3-mln-euro agreements with Germany

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RABAT, July 23 (Xinhua) — The Moroccan government has signed three loan and grant agreements worth 701.3 million euros (810.6 million U.S. dollars) with Germany, to finance diverse economic sectors in the North African country.

The agreements were signed on Wednesday in capital Rabat by Minister of Economy and Finance Mohamed Benchaaboun, and German Ambassador to Rabat Gotz Schmidt-Bremme, reported official RIM radio on Thursday.

The statement did not specify the details of the three agreements, nor the areas to which these funds will be directed.

According to the statement, the agreements reflect the importance of the cooperation between the two countries which focuses on priority sectors of Morocco’s development, mainly renewable energies, energy efficiency, sustainable economic development and management of water resources. Enditem

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