Kuwaiti fund studies Moroccan projects

The Kuwaiti Fund for Arab Economic Development is currently studying means to finance several projects in Morocco.

The projects deal with industrial zones infrastructure, drinking water and highways, Hicham Ibrahim Al-Wakayane told the Moroccan press in the Kuwaiti capital city.

Morocco and the Fund concluded an accord last year, providing for financing eight projects in agriculture, roads and water, he said.

The Kuwaiti Fund has earmarked some $500 million to finance 42 projects in Morocco since 1966.

The fund, which gives priority to projects in the Arab world, extends $450 million and 500 million worth of loans annually.