Morocco Gets over $14 Million from China to Fund Public Projects

China has agreed to provide Morocco an economic and technical assistance worth over $14.5 million destined to finance public projects to be decided by the two partner countries.

An agreement was signed in this regard Tuesday in Rabat by Moroccan minister of economy and finance Mohamed Benchaaboun and Chinese ambassador in Rabat LI L.

Speaking on this occasion, Benchaaboun thanked the Chinese government for its interest in the economic and social development of Morocco.

He also commended the quality of the projects carried out in the country with the financial support of China, praising the growing Chinese investment in the North Africa Kingdom and the increasing number of Chinese tourists visiting Morocco.

For his part, ambassador Li said this financial contribution will enable the two countries implement jointly in the near future pilot projects in key sectors such as information & communication technology and education.

Chinese investments in Morocco have soared following King Mohammed VI’s visit to China in 2016 during which the two countries agreed to strengthen their strategic partnership.

Last year, Morocco and China had agreed to set up an academic institute, which will conduct studies on the “Belt and Road” initiative. Morocco was the first African nation to join the initiative in 2013, seeking to connect Asian, European and African countries more closely.

Thanks to its modern infrastructures, close ties with African economies and its advanced ports and free zones, Morocco offers a strategic export hub for Chinese businesses willing to expand in Africa.