Morocco gets loan to finance trade deals

The Abu-Dhabi based Arab trade financing program has extended Morocco a credit line worth $ 25 million destined to finance the kingdom's trade deals.

The loan agreement was initialed in Marrakesh Sunday by the program's executive president, Jassem Al Manaii, and Moroccan minister of economy, finance, privatization and tourism, Fathallah Oualalou.

This new loan, the 27th of the kind, brings to $ 335 million the amount granted by the Arab trade financing program to Moroccan financial institutions.

The program's actions aim at encouraging the setting up of an Arab free trade area, contributing to enhancing Arab products competitiveness and materializing Arab economic integration.