Arab Monetary Fund Grants Morocco $211 Million Loan for COVID-19 Recovery

$211 million. This is the amount of the new structural adjustment loan that the Arab Monetary Fund (AMF) has just granted to Morocco. This, to meet current challenges and support a public finance reform program.

The Minister of Economy, Finance and Administration Reform of Morocco, and the Director General Chairman of the Board of Directors of the Arab Monetary Fund signed the agreement relating to this loan on May 23.

Morocco had already received a $127 million loan from the AMF as financial support. In addition, the Fund is studying the financing requests of some member countries to improve their financial situation and enable them to meet the various challenges, particularly those inherent in the economic implications of the Covid-19 pandemic.

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