Grant will raise Morocco’s economic growth rate by 1.1%
real estate in morocco on September 24th, 2007.
Furthering the massive boosts in Morocco’s economy, this month (September) Morocco welcomed a five-year, $700m aid package from the US Millennium Challenge Corporation (MCC) .
The grant was finalized at a signing ceremony in Tetouan on the last day of August, and will be used to help Morocco combat poverty and develop the Moroccan economy. The plan will stimulate economic growth by raising productivity and improving employment opportunities in certain key sectors, and aims to reduce poverty rates in target areas.
The moroccan government expects the projects included in the program to raise the country’s economic growth rate by 1.1%, increase gross domestic product by $118m per annum and reduce poverty levels of 20% by 2012.
$111.8m will be spent to promote a project called “The artisan and the Medina of Fez“, to benefit links between the crafts and tourism sectors and the cultural assets of the Fez medina.
economic plan Fez foreign investment real estate in morocco
