Moroccan bank to build 1,000 schools

The Education Ministry and a Moroccan bank (Banque Marocaine de Commerce Exterieur) signed on Thursday an agreement under which the bank pledged to build 1,000 schools between 2000 and 2009.

The bank's education and environment foundation will also finance the purchase of school equipment, pay the salary of teachers and other staff and supervise the schools' financial management. All the equipment and properties will then be transferred to the Education Ministry or the local authority.

In exchange, the ministry will train educators and staff working in these schools.