Morocco to transport in $100 Million for Africa50 Fund

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Morocco plans to bestow in the Africa50 fund with an amount of 100 million dollars and provide it all facilities necessary to accomplish its mission, according to said, Mohammed Boussaid, Economy and Finance minister.

Morocco to transport in $100 Million for Africa50 Fund

Morocco to transport in $100 Million for Africa50 Fund

Talking about the constitutive general assembly of the Africa50 fund, established initially by the African development bank (AfDB), in the presence of ministers representing member states, Boussaid noted that this commitment by Morocco seeks to endorse and support collaboration within Africa, recalling on this occasion various travels by HM King Mohammed VI which were marked by the signing of several cooperation agreements.

Morocco extols again the AfDB’s decision to establish the Africa50 fund in Casablanca Finance City and restates his assurance to take all measures to initiate the fund’s job in the best conditions and guarantee its accomplishment.

This idea was approved by African finance ministers, AfDB governors, in Marrakech in May 2013 during the bank’s annual meetings.

Boussaid also highlighted Africa’s pressing need for infrastructure for which only 4% of the GDP is committed. The necessity of African nations in this area is approximated at 100 billion dollars per annum, however only 45 billion dollars is organized by African governments.

Mohamed Dekkak

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