Spain and Morocco agree to protect direct investments, new loans

An official Moroccan economic source told to ArabicNews.com that Morocco and Spain signed in "Madrid" a set of agreements to protect direct investment and that this agreements include new loans for medium and small companies in Morocco.

The agreements were signed by Rodrigarota the Spanish government chairman's deputy and minister of finance- also Idris Gits, the Moroccan minister of finance and commerce, who is on a visit to Madrid heading a delegation from the Ministry of Finance.

Sources said that Madrid agreed on converting part of the Moroccan debts, $40 million dollar, into local investments.

Spain granted transfer guarantees for Spanish and Moroccan companies that desire working in Morocco.