Moroccan debts to Spain will be used as investments

Spain agreed to convert Moroccan debts worth $40 million into local investments. Spain had also converted Moroccan debts worth $50 million into investments in Morocco's northern region. The total Moroccan debts to Spain are $2.5 billion, $90 million of which were converted into investments.

Spain had offered financial guarantees worth $60 million to Moroccan and Spanish companies working in Morocco. Spain is the second biggest customer for Moroccan products after France and the third largest foreign investor in Morocco.