Morocco to invest over $500 million in sports facilities

Morocco said it will invest $500 million to build sports facilities, part of its bid to host the final rounds of the 2006 World Cup.

"The Moroccan government decided to invest 5 billion dirhams (around $500 million) for the construction of sports infrastructure that will consolidate Morocco's odds to host the competition," Moroccan Prime Minister Abderrahmane Youssoufi said on Thursday in a 90-minute speech before the house of representatives, lower chamber of parliament.

He underlined that the holding of the World Cup "will undoubtedly have positive impacts on national firms and on employment."

Youssoufi also renewed Morocco's determination to take up the challenge of hosting the World Cup.

Morocco is competing with South Africa, England, Germany and Brazil to host the 2006 World Cup. This is the third Moroccan bid after two failures in 1994 (USA) and 1998 (France).