Inter-arab investments guarantee corporation granted Morocco $ 4.1 million in 2000

The Inter-Arab Investments Guarantee Corporation has granted Morocco in 2000 a total of $ 4.1 million, representing 2% of the Kuwait-based corporation's total guarantees.

A statement of the Moroccan department of economy, finance, privatization and tourism says $ 3 million went to guarantee investment operations and the remaining $ 1.1 million was used to finance import-export transactions.

The corporation started operating in 1975 as an Arab financial body geared to encouraging the flow of investments and trade among the Arab states.

By end 2000, the corporation's fund reached $ 251 million to which Morocco contributed $ 6.6 million, holding thus the 4th rank after Saudi Arabia, Kuwait and Libya.