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Property Borders News Article
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| EU plans 650 mln euros aid to back Morocco reforms |
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| 02 Mar 2007 11:54:11 GMT
Source: Reuters
BRUSSELS, March 2 (Reuters) - The European Commission plans to give Morocco more than 650 million euros ($856 million) over the next three years to help support economic and social reforms, the EU executive said on Friday.
Morocco will also be eligible for loans under the Facility for Euro-Mediterranean Investment and Partnership project helping finance private-sector ventures.
"We are aware that reform is difficult and costly, and we appreciate the scope of the remaining challenges (in Morocco)," EU External Relations Commissioner Benita Ferrero-Waldner said in a statement.
"For this reason, the EU will scale up its efforts to assist Morocco in its ongoing reforms."
The financial package will focus on social and economic developments, human rights, the environment and institutional support. Between 1995 and 2006, Morocco received 1.6 billion euros in EU funding, the Commission said |
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