International fund to invest $ 150 mln in Morocco

The "Western Mediterranean Growth Fund" is projecting to invest $ 150 million in various sustained development projects in Morocco, reports Moroccan "L'economiste" daily.

Recipient projects include the renovation of former jewish quarters in Essaouira and building a 300 hectares tourism compound in Ouarzazate.

Set up in 1977 by a group of fund-donors from the gulf countries (Kuwait, The United Arab Emirates and Saudi Arabia), the London-based Western Mediterranean Growth Fund specializes in investments in development projects in the Mediterranean basin.