German fund offers 200,000 euro to potential investors in Morocco

A German fund specializing in development issues (DEG) is offering 200,000 Euros to European enterprises wishing to invest in Morocco's development projects, said Hans-Joachim Blattner, an official from the institution.

Blattnerr said at a press conference held by the German chamber of commerce and industry Moroccan enterprises in which European capital hold at least 25% of shares are also eligible for the aid.

He recalled that the DEG has backed a pilot horticulture project in the southern region of Agadir carried out as part of public-private sectors partnership. The project, carried out over 11 hectares, will be extended to 40 hectares.

Since its creation in 1996, DEG, an organization that offers consulting, re-structuring and financing expertise to private companies in Africa, Asia, Latin America, Central and eastern Europe, posted in 2001 its highest volume of new operations with an amount of 412 million Euros.