Four agreements signed to promote low-cost housing
Morocco, Economics, 12/29/2003

Four conventions were signe Friday on the use of public real estate and the set up of a guarantee fund for loans to promote low-cost housing, during a ceremony chaired by premier Driss Jettou.

The accords aim to make housing affordable for the largest number possible of people with low income, part of the kingdom's global vision "10,000 dwellings annually until 2010."

Under two of the documents, some 34,000 ha of State-owned real-estate will be put at the disposal of operators, which will make the final cost of houses lower.

The two other conventions deal with the creation of two guarantee funds for bank loans granted for housing purposes.

The first fund, called "FOGALOGE Public," will be dedicated to civil servants and the second, "FOGARIM," will specialize in populations with low and/or irregular income. FOGARIM will be backed by Moroccan Housing Solidarity Fund (FSH) contributions for three years.

Morocco's low-cost housing projects "Essaouira Al Jadida" and the "A'nbar" project, implemented in the old town of Marrakesh, won Wednesday the US$15,000 Best Arab Housing Project Award and the Merit Award, extended by the Arab Housing Ministers Council. The Moroccan projects were chosen among the most successful ones in the Arab states.

Moroccan housing and urbanism minister, Toufiq Hjira, said at the prizing ceremony the awards evidence that Morocco's experience in low-cost housing is a pilot one in the Arab states.

Previous Stories:
  Libya's creation of investment center in Morocco, welcomed by official   (11/20/2003)
  USAID to launch $30 million program to assist Morocco   (11/13/2003)
  Morocco mulls fresh initiatives to promote housing   (10/8/2003)

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