Washington, April 22, 2012 (MAP)
Washington, April 22, 2012 (MAP)
Members of Deauville Partnership announced the launch of a new initiative to help five Arab countries, including Morocco, to access capital markets to accelerate their development, during a ministerial meeting in Washington on the sidelines of the spring Meetings of the IMF and World Bank (April 20-22).
The initiative for access to capital markets, which will benefit Morocco, Tunisia, Libya, Egypt and Jordan, is an important source of additional and complementary funding to “our previous commitments to help (these) countries” to regain access to capital markets to accelerate development and open the door to possible investment in the region, said in a statement, members of the Partnership of Deauville, launched in May 2011 by the G8 at its meeting in France.
They also agreed to review the implementation of a new “transition fund” that would bring donations, technical assistance, exchange of knowledge in order help countries to strengthen institutions, develop and implement reforms locally designed, according to the communiqué.
The meeting was chaired by U.S. Treasury Secretary Timothy Geithner, and marked by the participation of a Moroccan delegation led by Minister of Economy and Finance, Nizar Baraka.
“The United States, the United Kingdom, European Union, Saudi Arabia, France and Italy will work together with other partners to advance this initiative,” added the same source.
