Arab Trade Program lends Morocco US$ 25 million
Morocco-Regional, Economics, 4/13/2005

The Arab Trade Financing Program (ATFP) lent Morocco US$ 25 million to promote foreign trade, under a convention signed, here Tuesday.

The agreement was signed by Moroccan Finance minister, Fathallah Oualalou and ATFP Chief Executive Jassim Al Mannai on the sidelines of the meetings of Arab Financial institutions place in the Emirates capital.

Since its creation in 1989, ATFP funded several projects in Morocco reaching a total of US$ 618 million.

Created by the Arab Monetary Fund (AMF), the program is a specialized multi Arab financial institution with a mission to contribute to the development of Arab trade and to the increase of the competitive capabilities of the Arab producers and exporters.

ATFP was established in 1989 with a capital of US$ 500 million. The Program's capital is contributed by 44 shareholders including Arab financial organizations, regional monetary funds, central banks as well as public and private banking institutions.

It is based in Abu Dhabi and aims at contributing to the promotion of trade exchanges of commodities of Arab origin through the provision of a financial facility.

Previous Stories:
  Major Moroccan firms woo Western African market, gate to larger market   (3/2/2005)
  Morocco-Mauritania-Senegal sea line and Tangier-Dakar road to operate next year   (12/11/2004)
  Morocco eyes Arab tourism market   (11/24/2004)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search