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Morocco benefits from an envelope of 1.387 billion euros, including 202.6 million euros in the form of grants, as part of the Moroccan-German Development Cooperation, said on Tuesday a statement by the ministry of Foreign Affairs, African Cooperation and Moroccans Abroad.
During a telephone conversation, minister of Foreign Affairs, African Cooperation and Moroccans Abroad, Nasser Bourita, and the Federal Minister of Economic Cooperation and Development, Gerd Müller, commended the excellent bilateral cooperation and praised the conclusions of the last cooperation development inter-governmental negociations held recently between the two countries and which enabled Morocco to receive 1.387 billion euros, including 202.6 million euros in the form of donations, the statement added.
This envelope is first of all available as a direct support from Germany to Morocco's efforts in the fight against Covid-19, by dedicating an amount of 717 million to the National Covid-19 Fund and to the Caisse Centrale de Garantie, the statement pointed out, adding that 250 million euros will be dedicated to financing the first phase of the Partnership for Reforms, underway between the two countries for the 2020-2022 period.
The remaining 420 million euros will be used to finance large-scale economic development projects, such as those relating to the reform of the financial sector and those relating to the development of renewable energies and green hydrogen, the statement said.
The partnership between Morocco and Germany has now been consolidated through these latest commitments and its revitalized roadmap for the post-Covid-19 period, the source concluded.
