São Paulo – Last week, the Moroccan government and sovereign funds from Persian Gulf countries signed an agreement to invest 2 billion euros (US$ 2.6 billion at current exchange rates) in the Moroccan tourism industry. The funds will be provded by the Gulf countries, according to the African news agency Panapress.
In Morocco, the “Wessal Capital” fund will be established, with the purpose of monitoring and enabling tourism-oriented works launched by Morocco using the funds supplied by the Gulf countries. The agreement with the Moroccan Tourism Development Fund was signed by Qatar Holding LLC, Aabar Investments, based in the Emirates, Kuwait Investment Authority, and the Moroccan-based, Kuwaiti-created Al Ajial Investment.
*Translated by Gabriel Pomerancblum
