Arab finance program grants Morocco $ 25.5 million credit

The Arab Trade Finance Program granted Morocco $ 25.5 Million credit line to fund sulfur imports from Saudi Arabia and Kuwait.

An accord was concluded in this regard Wednesday by Moroccan finance minister, Fathallah Oualalou, and the Arab program's Chief, Jassem Naye.

The Arab program was set up in 1989 by the Arab Monetary Fund to finance inter-Arab transactions and enhance trade exchanges between Arab countries.

Morocco has so far obtained $ 140 million credit lines from the Arab program. The money served to finance importation of goods from Arab states.