Casablanca finance city

Morocco to rely on desalination for 50% of its fresh water needs by 2030

Morocco will produce 50% of its fresh water needs from desalination by 2030, said water minister Nizar Bakara, as the country faces one of the harshest droughts in its recent history. Five years of drought depleted reservoirs now only 23% full, while many farming areas face bleak prospects due to halt of irrigation. By 2030, […]

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 […]

Morocco’s King spurs initiatives to develop rural middle class

King Mohammed VI of Morocco had in recent months urged measures to promote the development of a rural middle class via promoting agricultural activity and making loans easier to access in the countryside. After calling for a revamp of the agricultural promotion strategy in Morocco, building on the achievements of the Green Morocco Plan, the […]