ANP

Morocco receives $275 million in Solidarity Fund against catastrophic events

A parametric insurance pool, facilitated by reinsurance broker Gallagher Re, paid out $275 million to Morocco’s Solidarity Fund against Catastrophic Events (FSEC), responding to the 7-magnitude earthquake that rattled Al-Haouz region on September 8, 2023, Middle East Insurance Review reported earlier this month. The insurance broker confirmed last year that it was in touch with […]

Somalia Slams ‘Secret Deal’ Claims, Rejects Swedish Aid-for-Deportation Allegations

Somalia’s government has firmly denied allegations that it entered into a secret agreement with Sweden to accept deported Somali nationals in exchange for redirected development aid. In an official statement, the Office of the Prime Minister rejected claims that Somalia received $9 million in Swedish aid as part of a covert deal. There is “no […]

WB backs Morocco’s digitalization & inclusive growth with $500 Mln funding

The World Bank announced on Tuesday a $500 million funding to help Morocco speed up its digital transformation and enhance its economic and social inclusion. The WB financial support will serve to improve financial inclusion and access to more competitive digital infrastructure and services for businesses and individuals. It also aims to spur private sector […]