Germany has granted Morocco an envelope of 1.387 billion euros, including 202.6 million euros in the form of grants within the framework of Moroccan-German development cooperation, according to a press release from the Ministry of Foreign Affairs, African cooperation and Moroccans living abroad.
The two foreign ministers, Nasser Bourita and his German counterpart spoke on the phone on bilateral cooperation and welcomed the conclusions of the latest intergovernmental development cooperation negotiations, the same press release said. These agreements have enabled Morocco to benefit from this important financial support, it is indicated.
In detail, 717 million are allocated to the National Covid-19 Fund and the Central Guarantee Fund. 250 million are reserved for the first tranche of the “Partnership for Reforms”, committed between the two countries for the period 2020-2022.
As for the remaining 420 million euros, they will be used to finance large-scale economic development projects on the reform of the financial sector or development projects for renewable energies and green hydrogen, the same document said.
