EU supports Morocco with $100m

  1. Posted on Wednesday 9 December 2009 - 14:00
    Addou
    Image of Addou
    Merieme Addou, AfricaNews reporter in Rabat, Morocco
    The European Union (EU) has granted Morocco two grants worth 771 million dirhams (USD 100 million). The first grant aims to promote investments and exports, while the second one aims to contribute to the financing of the Rabat-Sale tramway project.
    European Union
    Worth 680 million dirhams (about $87,997,409), the first agreement will support and promote exports, development project and investments launched in the North African country.

    The second agreement totaling 91 million dirhams (about $11,772,955), deals with financing the Rabat-Sale tramway project, that will be an appropriate response to the public transportation problem with its system of speed, comfort and environmental efficiency the development is expected to reinforce Rabat's financial autonomy and stimulate large-scale investments.

    The deal was signed by Moroccan Economy minister Salaheddine Mezouar and Head of the Delegation of the European Commission in Rabat, Eneko Landaburu.

    The agreement is part of the "Singular Pact" concluded between Morocco and the EU, and mirrors the pioneer aspect of this partnership at the Euro-Mediterranean level.

    Morocco has remarkably bolstered cooperation with the European Council and became the first non-European country with a membership in the north-south center of the Council.

    The North African country is the first and only southern country to obtain an advanced status with the European Union (EU) and to strengthen the partnership with it. This advanced status is the result of a 20-year cooperation process that began with the association agreement and led to the advanced status in 2008.

    The two sides recently announced plans to extend their Free Trade Agreement to cover not only goods, but also all agriculture and services by 2010.

Latest News

  1. African Peer Review Mechanism making progress11:50In 2003 the New Partnership for Africa's Development (NEPAD), the continental development plan, initiated the African Peer Review Mechanism (APRM…
  2. Combating HIV infections among African women10:30With a lack of knowledge and power, African women continue to bear the brunt of HIV infections.
  3. Legume cultivation booms in Western Kenya07/02Small Holder Farmers (SHFs) who traditionally relied on seed companies for all their seeds are now bulking their own legume seeds for their farms.
  4. Malawi vendors chase out Chinese07/02Vendors in Kalonga, the Northern district of Malawi, on Wednesday petitioned the District Commissioner to flash out all Chinese nationals who are doin…
  5. Zim: Informal sector urged to join HIV battle05/02While the Harare City council is busy engaging in running battles with city vendors, Health Minister has called for authorities to devise ways to form…
  6. Elections: Wole Soyinka warns Mugabe, Wade03/02The Nigerian Nobel Prize winner for literature said heads of states who are trying to cling to power suffer the same fate as the dictators who were sw…
  7. AU elections rescheduled for June in Malawi01/02Following a deadlock during Monday's African Union elections, with a tie between former wife to South African president Jacob Zuma, Home Affairs …
  8. Senegal in turmoil as protest intensifies01/02Hundreds of anti-government protesters Tuesday gathered in the central Dakar, Senegal to show their dissatisfaction over the incumbent president Abdou…
  9. Zimbabwe’s inflation still favourable -…01/02Zimbabwe's annual headline inflation still compared favourably with economies in the region, Reserve Bank of Zimbabwe Governor Gideon Gono said o…
  10. AFCON 2012: Sudan qualifies after four decades31/01The Sudanese national team has sealed a historic win over the Stallions of Burkina Faso.
  11. Senegalese opposition to intensify protests31/01Opposition and civil society groups in Senegal have vowed to increase their fight against incumbent President Abdoulaye Wade's presidential bid.
  12. Malawi: Rights coalition condemn stripping of…30/01The 39 members of the Solidarity for African Women's Rights Coalition based in 18 African countries have vehemently condemned the stripping of wo…
  13. Kenya to deworm five million children annually30/01Kenya launched the second phase of its national deworming programme at the World Economic Forum Annual Meeting 2012, aiming to treat 5 million childre…
  14. Benin’s Yayi Boni is AU’s new…30/01President Yayi Boni of Benin Republic has been elected chairperson of the African Union in the Ethiopian capital Addis Ababa
  15. Clashes in Senegal as Wade seek third term30/01Clashes have erupted in Senegal's capital Dakar and several other city cities ; after the Constitutional Council said President Abdoulaye Wade co…
News archive