Morocco & ITFC Ink Cooperation Agreement

Morocco and the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), have agreed to enhance cooperation within the framework of Arab-Africa Trade Bridges (AATB) Program. This regional trade promotion program aims at addressing some of the challenges faced in promoting trade between Africa and the Arab world. The […]

AfDB approves €270 million loan to modernize Morocco’s airports

The African Development Bank has approved a €270 million loan to Morocco to finance an ambitious program to expand and modernize the country’s airport infrastructure as it prepares for a surge in tourism and for the 2030 World Cup. The project, known as the Airport Infrastructure Extension and Modernization Program (PEMIA), aims to boost Morocco’s […]

Saudi Arabia shelves plan to take over United Bank of Egypt over disagreement with Cairo

Saudi Arabia has put a plan by its sovereign wealth fund to acquire the United Bank of Egypt on hold because of a disagreement with the Egyptian authorities over its valuation, Reuters reports citing two sources familiar with the matter. The pause is unprecedented in the spree of investments done by the Gulf country in […]