arab-summit

Morocco aims to reduce energy consumption by 20%

Morocco said it targets a reduction of 20% in its energy consumption by 2030 in tandem with a plan to generate 52% of its electricity needs from renewables, Energy Minister Aziz Rabbah said. Morocco has launched an energy transition process in 2009 to develop renewable energies and energy efficiency while strengthening regional energy integration, said […]

EBRD greenlights $25m loan to Egypt-based UMC

The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]

AfCFTA to boost remittances by making cross-border transactions cheaper

The African Continental Free Trade Area (AfCFTA) has potential to increase cross-border remittances by migrants, according to a new report by World Bank, even as international markets remain the largest sources. The AfCFTA has the potential to make cross-border transactions such as remittance transfers by migrants within Africa cheaper through the Pan-African Payment and Settlement […]