Morocco asks IDB to finance study on off-shore zone in northern Moroccan province

Morocco has requested the Islamic Development Bank (IDB) to finance a technical study on the project to set up an off-shore zone in the Moroccan Mediterranean province of Nador.

The request was voiced by Moroccan minister of industry, trade, energy and mining, Mustapha Mansouri, at a meeting in Rabat last week with IDB regional bureau for Africa, Hani Sounboul, who said that the bank has discussed this project in the frame of its 2000-2004 plan.

The off-shore zone will extend over 300 ha.

The two sides surveyed other aspects of cooperation between Morocco and the IDB and agreed to hold a conference to explain to businessmen the bank's activities, services and financing means.

Since the IDB was set up, it extended Morocco about US$ 1.5 billion, part of its backing to economic and social development of member states.