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
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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)
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Sovereign wealth funds from Qatar and Kuwait led pledges last week to invest almost $3bn in cash-strapped Morocco (AFP/Getty Images)
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The move could cement ties between Arab monarchies at a time of political turmoil in the region (AFP/Getty Images)
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Qatar's sovereign wealth fund and the Moroccan state agreed to establish a 50-50 investment joint venture worth $2bn (AFP/Getty Images)
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The investment aims to help Rabat fund major development projects, a statement from the Moroccan government said (AFP/Getty Images)
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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)
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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)
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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)
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