Spain and Morocco signed two new deals Tuesday on economic investment and debt relief, during a visit of Moroccan King Mohammed VI, the economics ministry announced.
Spain agreed a $50 million (58.5-million-euro) investment program for northern Morocco announced by Spanish Prime Minister Jose Maria Aznar during a visit to Morocco in August 1999.
The money, paid over a two-year period, will help Spanish businesses set up in the region.
The second involves the conversion of Morocoo's debt, and covers a total of $40 million. It is the third such deal between the two countries since 1996 and assumed on Spain's part the writing off of 50 percent of the debt.
During a visit to the Moroccon community in Madrid, Mohammed called for greater understanding between the two communities.
He expressed concern at a number of racist incidents directed against Moroccans, particularly during last February in Andalusia, southern Spain. —(Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
