EBRD Lends €16 Mln to Varroc Lighting Systems Morocco

The European Bank for Reconstruction and Development (EBRD) announced Friday a €16 million loan to Varroc Lighting Systems Morocco, the Moroccan subsidiary of the Indian motor industry’s lighting systems giant, Varroc Engineering Pvt Ltd. The loan will allow Varroc Engineering to supply the Tangier Renault factory and the Peugeot PSA plant in Kenitra, as well […]

Morocco Arrests Four Terrorists Loyal to IS in Essaouira

The Central Bureau of Judicial Investigations (BCIJ), an offshoot of Morocco’s domestic intelligence agency, arrested four members of a terrorist cell loyal to the Islamic State before they moved to action. The cell was dismantled in the Atlantic city of Essaouira, the interior ministry said in a statement, noting that the suspected terrorists are accused […]

EU Disburses €1bn Second-Phase Macro-Financial Support to Egypt Following Reforms

Egypt has received €1 billion in concessional development financing from the European Union, marking the first tranche of the second phase of the EU’s macro-financial assistance (MFA), announced on Thursday by Minister of International Cooperation, Rania Al-Mashat. The disbursement follows the implementation of 16 economic and structural reforms aimed at strengthening macroeconomic stability, improving public […]