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Germany giving Morocco €330.5 million for sustainable development

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Staff Writer | Friday February 8, 2019 7:50AM ET
Germany Morocco
Africa   Goetz Schmidt-Bremme and Mohamed Benchaaboun

Morocco has signed two financial cooperation arrangements with Germany to boost its economic activities in sustainable development.


The signing of the arrangements took place Tuesday in Rabat between Morocco’s Minister of Economy and Finance Mohamed Benchaaboun and the German ambassador to Morocco, Goetz Schmidt-Bremme.

According to Benchaaboun, the two agreements are intended to support renewable and electric energy, water supply, and desalination of seawater.

He also highlighted Morocco’s readiness to improve cooperation with Germany, while emphasizing Morocco’s willingness to sign more agreements.

The minister noted that Moroccan reforms will benefit from Germany’s support program, particularly in business climate and investment promotion, whether for small and medium-sized enterprises (SMEs) or start-ups.

Schmidt-Bremme said that the signing of the finance and credit arrangements are part of a strategic partnership to support Morocco’s renewable energy, water, and sustainable economy.

 

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