Rabat, Mar 3 (IANS): The European Union (EU) and Morocco signed five agreements with a total value of 498 million euros ($526 millions) to support Morocco's development, the Ministry of Finance here said in a statement.

The agreements were signed by the European Commissioner for Neighborhood and Enlargement Oliver Varhelyi and Moroccan Minister Delegate in charge of the Budget Fouzi Lekjaa, Xinhua news agency reported citing the statement as saying.

The funds will be used to strengthen Morocco's programs on social protection, facilitate the country's green transition, public administration reform, migration management and its citizens' access to financial services, it added.

Varhelyi arrived in Rabat on Wednesday for a three-day visit that aimed at strengthening the strategic and multiform partnership between Rabat and Brussels, according to a statement by the EU.

The visit is part of the implementation of the Joint Political Declaration, which was adopted in June 2019 and aimed at giving a new impetus to advance EU's relations with its southern neighbour, the statement said.