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Saudi fund finances housing project in Morocco
Morocco-Saudi Arabia, Economics, 4/11/2000
The Saudi development fund will extend Morocco a $ 7.5 million loan to finance a low-cost housing project in Fes, central Morocco.
The amount will finance the construction of 7,200 lodgings for 41,000 low-income persons.
The loan agreement was initialed by Moroccan economy and finance minister, Fathallah Oualalou and visiting vice-chairman of the Saudi development fund.
The loan will be reimbursed over a 20-year period at a 3% interest rate.
Previous Stories:
Morocco calls Saudi investors to take advantage of gulf investment forum
(3/1/2000)
Moroccan executive delegation starts gulf tour
(2/28/2000)
Saudi loan to refurbish hospitals in Marrakesh
(11/23/1999)
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