Morocco, Japan sign exchange of notes on loan of 200 mln dollars

An exchange of notes relating to a Japanese loan amounting to 200 million US dollars was signed, on Wednesday in Rabat, with the aim of supporting Morocco's response program to the Covid-19 pandemic.

This exchange of notes, signed by Minister of Economy, Finance and Administration Reform Mohamed Benchaâboun, and the Extraordinary and Plenipotentiary Ambassador of Japan to Morocco Takashi Shinozuka, is part of the strengthening of ties of friendship and cooperation between Morocco and Japan.

Co-financed with the African Development Bank (AfDB) under the ACFA (Accelerated Co-Financing Facility for Africa) program, this budget support by Japan aims to support Morocco's efforts to face the health, social and economic crisis caused by the pandemic, by quickly making additional resources available to the Kingdom to carry out health and social emergency interventions and improve the resilience of the national economy.