European Investment Bank to increase investments in Morocco
The European Investment Bank invested 184 million Euro in Morocco last year and may put in 260 million Euro in 2004, said Moroccan minister of finance and privatization, Fathallah Oulaalou.
In a statement to MAP following the closure Monday in Cairo of the 4th ministerial meeting of EIB’s Facility for Euro-Mediterranean Investment and Partnership (FEMIP), Oulaalou said participants agreed to hold their next meeting in Morocco in June 2005.
He said he briefed the meeting at debates on privatization, on Morocco’s achievements since privatization was launched in 1993 with 66 public firms privatized, yielding a 54 billion Dirham turnover, 83% of which goes to foreign investors, mainly EU ones.
© 2004 Mena Report (www.menareport.com)