Xinhuanet
Xinhua
Morocco has received 4.3 billion U.S. dollars under a 5-billion-dollar grant from Gulf countries since 2012, local media reported on Monday.
In 2011, the Gulf Cooperation Council approved allocating 5 billion dollars in grant to support the development projects in Morocco over five years.
The funding was to be provided by Saudi Arabia, the United Arab Emirates (UAE), Kuwait and Qatar on a share basis of 1.25 billion U.S. dollars for each country.
Morocco has received 1.25 billion dollars from Qatar and Kuwait, 1.03 billion dollars from the UAE, and 803 million dollars from Saudi Arabia, the Moroccan financial news site Medias24.com reported, citing statistics from the Moroccan Finance and Economy.
Meanwhile, Morocco has already included receiving the remaining 700 million dollars in its forecasts in the 2018 budgetary law.
