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Arab Monetary Fund grants loan to Morocco

The Arab Monetary Fund (AMF) has just granted Morocco a loan in the amount of 211 million US dollars to face current challenges and support a public finance reform program.

The Fund has granted a new structural adjustment loan to Morocco, in the amount of 51,406 million Arabian Dinars of Account, equivalent to US $ 211 million, to meet current challenges and support a reform program of public finances, announces the Arab financial institution. And to specify that the agreement relating to this loan was signed, on May 23, by Mohamed Benchaâboun, Minister of the Economy, Finance and Administrative Reform and Abdulrahman A. Al Hamidy, Chief Executive Officer of the Board of Directors, on behalf of the Arab Monetary Fund.

The AMF recently granted Morocco an automatic loan in the amount of 30,844 million Arab Dinars of Account, the equivalent of 127 million US dollars, in order to support the financial situation of the Kingdom and meet urgent financing needs.

The Fund is examining requests for funding from a number of member countries and is working to complete procedures as soon as possible in order to help improve the financial situation and meet various challenges, especially those inherent in the economic implications of the pandemic (Covid-19).

Based in Abu Dhabi and founded in 1976, the AMF is a regional Arab organization.

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