French body donates Morocco 1.4 million euros

Morocco and France signed on Friday a convention under which the French Development Agency is donating Morocco 1.4 million Euros to finance a fund for project studies and preparation.

The fund will finance technical, economic, financial, institutional, environment, and social studies needed for projects eligible for the Agency financing.

The agreement was signed by Morocco's finance, economy, tourism and privatization minister, Fathallah Oualalou, and general manager of the French agency, Antoine Pouillieute.

On the same day, the two sides had signed a $7.1 million donation to upgrade infrastructures in Moroccan northern areas.

The money will be used by the National Agency for the Promotion and Development of the North (APDN), a state body trying to develop alternative economic activities in the area where an estimated 65,000 ha are devoted to cannabis crops and some 12,000 families live on the activity.