Over 180,000 people from unprivileged social classes had access to housing thanks to the government's funding program, FOGARIM, a press release of the Housing Ministry said on Tuesday.
Some 31,785 housing loans, amounting to over USD 628Mn, were granted up to late February 2008, the press release said, adding that interest rates have plummeted compared to recent years to reach as down as 3.53%.
FOGARIM was created in 2005 as part of state power that bid to facilitate access to generic housing for people with low incomes or wrong.
This cheap housing provided to the 350000 housing units around two million inhabitants, the Minister of Housing, Ahmed Tawfik Hejira shown recently.
He said sixty cities across Morocco benefited from the program is also known as social housing, and that the tax cuts agreed in 2002, were aimed at speeding up the production rate and affordable social housing.
This move was apparently allowed a number of secondary wage gains to buy an apartment, as well as 70% of buyers get a monthly salary of about $ 450, he said.
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