Qatar to invest $1bn in Moroccan infrastructure
25 November 2011
Qatar's sovereign wealth fund has signed an agreement with the Moroccan state to fund infrastructure projects in the North African nation.
The agreement establishes at 50-50 investment joint venture worth $2 billion (£1.29 billion) for major development projects, reports Reuters.
Morocco's King Mohammad and visiting Qatari ruler Sheikh Hamad bin Khalifa al-Thani signed an agreement in Rabat that will see future cooperation between the Qatar Investment Authority and its Moroccan equivalent.
A Financial Times blog commented that the Qatari investment "may be the perfect way to get, and retain, exposure to the growth surging through emerging market economies".
The financial newspaper's beyondbrics blog went on to comment that infrastructure investment in countries like Morocco "is likely to bring continued growth tomorrow".
According to the paper, Qatar's sovereign wealth fund is estimated to be worth around $85 billion.
A wind/hybrid generating system to be built in Morocco was recently approved by Climate Investment Funds (CIF).