Around the world

Morocco bank-Chinese JV

Attijariwafa Bank (AWB), one of Morocco’s largest banks, has signed an agreement with China State Construction Engineering Corp (CSCEC) to launch a joint venture (JV) in Africa, the bank said in a statement Monday.

This agreement offers AWB the opportunity to develop a long-term partnership with CSCEC, a world-leading corporation in construction, infrastructure and real estate development, the statement said.

The two sides will exploit commercial opportunities in various sectors, including infrastructure, construction and real estate in Morocco and other African countries where AWB operates.

AVIC cooperation deals

The Aviation Industry Corp of China (AVIC) has entered into cooperation deals with 28 Belt and Road (B&R) countries and regions, according to the Stateowned aviation giant.

AVIC cooperates with B&R countries and regions in five major fields: civil aircraft development and sales, services and infrastructure construction, general aviation operation and services, capital operation, and security products and services.

More B&R countries and regions are using Chinese aircraft, such as the MA60 series turboprop passenger planes, LE500 and Y-12 series general planes and Y-8 transport aircraft.

As of June, China had delivered 57 MA60 series planes to 18 B&R countries and regions, along with 103 Y-12 series planes to 28 B&R markets.