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Banking

Spain converts Morocco’s EUR 30mn debt into investment fund.

Spain converts Morocco’s EUR 30mn debt into investment fund. Spain announced that has decided to convert EUR 30mn of Morocco 's debts into public investments. The Spanish embassy in Rabat made the announcement saying that the funds would be used for sanitation projects, etc. Around EUR 22.5mn will finance a liquid sanitation projects in the northern region. The balance funds will be earmarked for other projects under Morocco ’s National Initiative for Human Development (INDH). The decision was reached at the Moroccan-Spanish joint committee

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