RABAT, Nov 24 (Reuters) – Qatar’s sovereign wealth fund and the Moroccan state on Thursday agreed to establish a 50-50 investment joint venture worth $2 billion that aims to help the cash-strapped North African economy fund major development projects.
Visiting Qatari ruler Sheikh Hamad bin Khalifa al-Thani and Morocco’s King Mohammed signed an agreement in Rabat to set up the joint venture fund between the Qatar Investment Authority and its Moroccan equivalent, a Moroccan government statement said.
The agreement follows a surprise invitation in May by the Gulf Cooperation Council (GCC), of which Qatar is a member, to fellow monarchies Jordan and Morocco to join their club.
