Spain Swaps $40m of Moroccan Debt
Spain will swap $40 million of Moroccan debt into investments, Morocco's official news agency (MAP) reported.
The decision was made Friday by the Spanish ministers council to alleviate Morocco’s debt and back Spanish investments in the North African country, said MAP.
The $40 million amount is part of loans extended to Morocco by the Development Assistance Fund.
Meanwhile, Japan has granted Moroccan institutions a grant of $128,323 for the promotion of small projects in agriculture, health and social welfare.
A statement of the Japanese embassy in Morocco was quoted by the agency as saying that the $66,687 will go to an association supporting patients of the Rabat Ibn Sina university hospital to purchase supplies and equipment for the maternity unit.
Another $ 34,080 will be used to carry out an irrigation project in Taroudant (southern Morocco) while the federation of women associations in a northern Moroccan city (Ouezzane) obtained $27,556 to finance small projects for women -- Albawaba.com
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