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Government earmarks over 650 million euro to promote Morocco's eastern region
Morocco, Economics, 4/7/2005
The Moroccan government has earmarked over 600 million euro to promote Morocco's eastern region, under two conventions signed, in Rabat Wednesday, under the chairmanship of King Mohammed VI.
The first convention with an amount of MAD 6 billions (1 Euro=1.093 MAD) is meant to finance the Fez-Oujda highway and the second of MAD 300 millions concerns an investment fund for the promotion of this region.
The 320 km Fez-Oujda highway that will be operational in 2010 is funded by the government, Hassan II Fund for Social and Economic Development and Moroccan highway company "Societe Nationale des Autoroutes du Maroc."
In this connection, the monarch appointed Mohamed El-Mbarki as Director General of the Agency for Promoting and Developing Eastern Provinces.
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