(MENAFN - Morocco Business News) Morocco and the European Union (EU) signed on Tuesday in Rabat a cooperation programme worth euro 580 million, for the 2011-2013 period.
Signed by the Moroccan finance minister and the EU ambassador in Morocco, the programme is composed of several donations with an overall amount of euro 580 million.
The first donation, worth euro 116 million, concerns social policy development. It will used for fighting slums, developing rural areas and supporting basic medical coverage.
For its part, the second donation is meant to boost the modernization of the economy. With a mount of euro 58 million, it will mainly support the agricultural development plan Green Morocco'.
Another euro 232 million will be earmarked for institutional support, euro 87 million for good governance and human rights, and euro 87 million for environment protection.
Thanking the EU for supporting the country's economic and social development, the Moroccan finance minister said that Morocco has become the first recipient of financial aid as part of the European Neighbourhood Policy.
Earlier this month, EU ambassador in Morocco Eneko Landaburu had said that Morocco shares most values with the European Union and has the strongest relations with it in the Mediterranean region.
Speaking at conference on Morocco-EU relations, Landaburu had underlined that the Moroccan-EU cooperation is cemented by solid, longstanding economic, historic and cultural ties.
He had also said that the advanced status that the EU granted to Morocco bears testimony to the strength of their bilateral relations and dialogue.