King Mohammed chairs Hassan II fund Meeting
Morocco, Politics, 4/1/2000

King Mohammed VI chaired here friday a meeting of the Hassan II Fund to earmark available funds to a series of economic and social development projects.

The meeting --attended by premier Abderrahmane Youssoufi, adviser to the king Andre Azoulay and several cabinet members-- adopted a set of actions to be financed making of the Fund a major economic lever, to the side of public and private economic operators, favoring inflow of private investment for long term partnership and taking into account the real positive impact on growth, employment, technology transfer et economic activity enhancement in a bid to make up for drought effects, both on income and employment.

Measures adopted in various realms of activity:

-Equipment: One billion dhs goes to the Moroccan highway authority ADM to speed up construction of the highway network program.

-Housing: Consolidation of social housing program with 1.1 billion dhs out of the 8 billion dhs total cost.

-Nassim Project: 500 million dhs allocated to re-locating households displaced under the Royal Avenue development project in Casablanca and housing of former dwellers in neighboring shantytowns to Nassim and El Hank.

-Tourism: partly funding three tourism hubs in Taghzut (Agadir), Saidia-Ras El Ma (Oujda) and Khemis Sahel (Larache). 500 million dhs injected in the undertaking to generate private investments totalling 10 billion dhs.

-Industry: 500 million dhs as a contribution to setting up of more industrial zones, infrastructures and advanced technologies to upgrade industries, textiles mainly.

-Agriculture: One billion dhs goes to completion of the one-million hectare irrigation and launching of a high-yield grain project.

-Sharing in social action in favor of rural areas as part of a program meant to alleviate drought effects for a total of 100 million dhs.

-Back-up worth 100 million dhs to re-afforestation programs, protection of valleys and dams and fight against desert-encroachment.

-Sea-fisheries get 250 million dhs to set up fishermen's grouping centers, shelters for traditional fishing and sector promotion.

-Strengthening of social programs using 350 million dhs to promote jobs and fight illiteracy.

-Cultural activity get 400 million dhs to build the Royal Arts Museum, Rabat's National Library and Casablanca Theater.

-The Funds earmarked 200 million dhs for infrastructure needed for the development of new information technology and increase in means of RTM in the prospect of its reformed legal statute.

-The moroccan bid to host the 2006 football World Cup will be using 250 million dhs.

-100 million dhs will help fund small-loans.

A total amount of 280 million dhs will later be allocated to projects still to be okayed.

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