Xinhua reports on Morocco’s ongoing engagement with the African Development Bank’s Africa 50 Fund:
Morocco intends to contribute in the Casablanca based Africa 50 fund with 100 million U.S. dollars and give it all facilities necessary to fulfill its mission, said the Economy and Finance Minister Mohammed Boussaid.
Speaking at the constitutive general assembly of the Africa50 fund on Wednesday, Boussaid noted that this commitment by Morocco seeks to promote cooperation within Africa.
He also underlined Africa’s pressing need for infrastructure, adding that the need of African countries in this area is estimated at around 100 billion dollars annually, yet only 45 billion dollars is mobilized by African governments. [full story]