Washington commits $ 6.6 million to economic development in Morocco
Morocco-USA, Economics, 7/1/2000

Morocco and the United States signed on Friday an agreement under which Washington donates Morocco $6.6 million to finance and promote a series of projects and activities in support of Morocco's economic development.

Activities comprised in the agreement are the improvement of investment climate, initiating new micro-loan initiatives, industry strengthening in south-western region and assistance to new governmental institutions.

The USA donates $900,000 to finance part 3 of the "Investors Roadmap" project. After phase 1 and 2 focused on identifying barriers to investment and ways of reducing them, part 3 will consist of an assistance program to implement reforms and administrative improvements.

A $2.2 million donation will go to introduce micro-lending programs for housing and home improvement, and to extend USAID micro-lending programs to rural areas in Morocco.

Regarding industry strengthening in the Souss-Massa-Draa region (southwestern Morocco), $ 1.9 million will be allocated to provide technical assistance, training and information technology to three industry associations in the area.

A $1.6 million grant will be used to provide assistance to potential new Moroccan government institutions to help promote investment and encourage economic growth.

The agreement was initialed by Moroccan minister of the government general affairs, Ahmed Lahlimi, and director of the US Agency for International Cooperation (USAID), James Bednar, in the presence of US ambassador in Morocco, Edward Gabriel.

This follows a USAID $4.4 million grant signed on June 13 to support improvement and reforms of Morocco's commercial court system.

The US diplomat recalled, during the signing ceremony, the "historic" visit paid by king Mohammed VI to the USA last month and the lengthy talks he held with US president, Bill Clinton. He stressed that the two heads of state share common values to consolidate Morocco's democracy, stability and prosperity.

He also urged for setting up a national investment promotion agency to which the USA will contribute funds for training and technical assistance.

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