German banks interested in Moroccan privatization

German financial sources said that Dresdeneer Bank, the second most important private financial corporation in Germany, wants to establish cooperation with local banks in Morocco.

An official in the bank administrative board in Frankfurt said that the bank is interested in the Moroccan privatization program and that a German delegation will travel to Morocco soon to get acquainted with the opportunities available to expand the company's activity there.

The Dresdeneer Bank will participate with German, Luxembourg, French, Japanese, and British banks in insuring loans worth $200 million from the European financial market to Morocco in the first return to the commercial financial market for 14 years.

The official said that the bank raised its participation share to 10% in the fund of "Moroccan Bank for Foreign Trade" to encourage German banks to work in Morocco through local cooperation.