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Sun 27 Nov 2011 12:04 PM

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Qatari fund eyes new resorts in cash- strapped Morocco

Qatar’s $2bn cash boost to help Morocco in bid to be among world's top 20 holiday spots

Qatari fund eyes new resorts in cash- strapped Morocco
Qatari emir Sheikh Hamad Bin Khalifa Al Thani (L) is welcomed by King of Morocco Mohamed VI upon his arrival at Rabat airport (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Sovereign wealth funds from Qatar and Kuwait led pledges last week to invest almost $3bn in cash-strapped Morocco (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
The move could cement ties between Arab monarchies at a time of political turmoil in the region (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Qatar's sovereign wealth fund and the Moroccan state agreed to establish a 50-50 investment joint venture worth $2bn (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
The investment aims to help Rabat fund major development projects, a statement from the Moroccan government said (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Sheikh Hamad and King Mohammed attended the signature ceremony for the agreement to set up the joint venture fund between the Qatar Investment Authority and its Moroccan equivalent (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Morocco has devised a plan worth 100bn Moroccan dirhams in investment to join the world's top 20 holiday destinations and double tourism receipts to 150bn Moroccan dirhams by 2020 (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Tourism is Morocco's main source of hard currency, contributes close to 10 percent of its gross domestic product and directly employs 450,000 people (AFP/Getty Images)
Qatari fund eyes new resorts in cash- strapped Morocco
Qatari fund eyes new resorts in cash- strapped Morocco
Qatari fund eyes new resorts in cash- strapped Morocco
Qatari fund eyes new resorts in cash- strapped Morocco