european

WB grants additional funding of $250 million to finance Morocco’s education support program

The World Bank has granted Morocco an additional funding of $250 million to finance the Support to Education Sector Program. This additional funding will bring the total funding of the program to $750 million. The related loan agreement was signed, Wednesday in Rabat, by the Minister in charge of the Budget, Fouzi Lekjaa, and the […]

IMF approves $1.3 Bln for Morocco under Resilience & Sustainability Facility Arrangement

The International Monetary Fund Executive Board has approved a Resilience and Sustainability Facility (RSF) for Morocco worth about $1.3 billion. The arrangement will support Morocco’s transition to a greener economy and help strengthen its preparedness and resilience against natural disasters, including from climate change, the Washington-based institution pointed out in a release. The 18-months arrangement […]

Algeria slashes spending by 50% due to drop in oil earnings & Coronavirus impact

The Algerian economic model, which is depending heavily on oil & gas revenues, is seemingly crumbling. The new financial realities have shown that its former decade’s high spending is no longer possible with the rapidly depleting state coffers and widening deficit. Hit hard by a sharp drop in oil prices on the international and the […]