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Qatar inks $2 bln investment JV with Morocco The joint venture worth $2 billion aims to help the cash-strapped North African economy fund major development projects
Qatar's sovereign wealth fund and the Moroccan state on Thursday agreed to establish a 50-50 investment joint venture worth $2 billion that aims to help the cash-strapped North African economy fund major development projects. Visiting Qatari ruler Sheikh Hamad bin Khalifa al-Thani and Morocco's King Mohammed signed an agreement in Rabat to set up the joint venture fund between the Qatar Investment Authority and its Moroccan equivalent, a Moroccan government statement said. The agreement follows a surprise invitation in May by the Gulf Cooperation Council (GCC), of which Qatar is a member, to fellow monarchies Jordan and Morocco to join their club.