French fund consolidates development assistance to Morocco

The French Development Agency (AFD) announced an increase in its budget to development assistance in Morocco which will reach 45 million euros this year.

The budget will go to local development, social housing, water-pumping stations, rural electrification and development of industrial areas.

The AFD annual report, presented Thursday to the media, stresses that goals sought by the agency program, which financed since 1992 a total of 450 million euros, of which 45% went to Moroccan northern regions, have been accomplished.

Set up in 1941, the agency contributes to economic and social projects and struggle against poverty in 60 developing countries.