King Mohammed VI Calls for Joint Arab Development Initiatives in Africa

Rabat – At the opening of the 2017 Joint Annual Meeting of Arab Financial Institutions on Tuesday in Rabat, King Mohammed VI praised Arab investors’ expansion of activities beyond the Arab world into Africa and encouraged further cooperation with the countries of the continent.“It is a matter of deep satisfaction that, in addition to your institutions’ role as leading development bodies in the field of inter-Arab cooperation, their efforts and funding have gone beyond the borders of the Arab world, extending to African countries as well,” said the King. “Your institutions have therefore been contributing to strengthening cooperation and solidarity between the two groups.”The King cited his country’s work towards this end, expressing his excitement at “building on Morocco’s reintegration of the African Union to consolidate Arab-African cooperation and promote regional integration.” He gave as an example the flagship gas pipeline project between Nigeria and Morocco, which he called a model of South-South cooperation that should be supported by Arab financial institutions. He added that Morocco’s skilled human resources and expertise is at the disposal of Arab financial institutions in order to contribute to Africa’s development.The monarch reaffirmed Morocco’s commitment to boosting joint Arab action, adding that that the Kingdom is looking forward to seeing expanded joint Arab action that would boost inter-Arab economic relations and open up broader horizons for trade “to serve shared Arab interests.”The King concluded his message by thanking the Arab financial institutions for supporting economic and social development in Morocco through their financing of development and investment projects.The meeting, which will conclude on April 19, brings together Arab finance ministers, central banks, financial institutions, and representatives from the International Monetary Fund, the World Bank, and the Islamic Development Bank Group to discuss finance, economy, and sustainable development strategies for the Arab world.

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