libya

AfDB approves 450 million euro guarantee for OCP green investment program

The African Development Bank Group board of directors approved Wednesday a 450 million euro non-sovereign partial credit guarantee benefiting the Phosphates Office Group. This financing instrument, deployed in Morocco for the first time, aims to enable OCP Group to mobilize loans up to 530 million euros from international financial institutions aligned with its green financing […]

Railways: Morocco’s ONCF Receives First Batch of Prima Electric Locomotives

Morocco’s national railway operator ONCF has received lately the first of 30 Prima M4 locomotives being manufactured by the French Alstom company under a €130 million deal concluded in 2018 between the two sides. The Prima M4 locomotives have a nominal power of 5.5 MW. The maximum running speed is 160km/h. Being electric, the M4 […]

Saudi Arabia to provide Tunisia $500m as soft loan and grant

Saudi Arabia will give Tunisia $500 million as a soft loan and a grant to help improve its public finances with the national budget suffering a $2-billion deficit,  the Saudi state-run news Agency SPA reports. Tunisia is facing an acute economic crisis compounded by the pandemic coupled with a tense domestic political crisis. The North […]