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Providing financial support for its member countries during the global health crisis, the Arab Monetary Fund (AMF) has extended a USD 127 million Automatic Loan to Morocco.
The loan is part of an agreement signed Thursday, May 7, by Economy and Finance Minister Mohamed Benchaaboun and the director general chairman of the board of executive directors of the AMF Abdulrahman A. Al Hamidy.
In a press release, published Wednesday by Zawya, said agreement is meant to «provide financial support to strengthen the Kingdom’s financial position and meet emergency needs» and help it overcome the «challenges it faces due to the current circumstances».
AMF is studying the possibility of granting Morocco another loan to «support a reform program in the public finance sector», adding that the procedures for this loan will be completed shortly.
